SharpLink started buying Ether again after an eight-month pause, spending $62.4 million on ETH over three days. This move shows the company is rebuilding its Ethereum holdings while prices are still low. The purchases happened as SharpLink teamed up with Bitmine and Ethereum co-founder Joe Lubin to launch Ethlabs, a nonprofit aimed at helping Ethereum attract more institutional users. This renewed buying has raised questions about whether big investors see Ether’s recent price drop as a chance to buy for the long term.
On-chain data from Arkham shows SharpLink bought 5,000 ETH on Thursday and another 5,000 ETH on Friday. On Saturday, the company made its largest purchase, buying 29,196 ETH in three over-the-counter deals. In total, SharpLink bought 39,196 ETH, worth about $62.4 million.
This buying marks a big change for SharpLink, which had stopped adding Ether for eight months. The company has competed with Bitmine to be one of the largest corporate holders of Ether, and these new purchases show it is returning to that strategy.
SharpLink did not comment on why it made these purchases now, but the timing matches the launch of Ethlabs, a group focused on helping Ethereum serve more institutional users. Together with Bitmine, Ethereum co-founder Joe Lubin, and other contributors, SharpLink will support research to make Ethereum more scalable and ready for businesses.
SharpLink believes Ethereum is becoming the top choice for new blockchain financial apps, like stablecoins, tokenized assets, investment funds, and AI-driven commerce. The company says Ethlabs will work to make sure Ethereum can handle this growing demand while keeping performance strong.
SharpLink’s new buying spree comes at a tough time for Ether. The price has dropped almost 23% in the past month and is still about 50% lower than at the start of the year. Last week, Tether’s USDT even briefly passed Ether in market value, showing how challenging things are for the second-biggest cryptocurrency.
Institutional interest in Ether is still mixed. US spot Ether ETFs saw their seventh straight week of outflows, losing $12.9 million, with most withdrawals coming from BlackRock’s iShares Ethereum Trust. Even with these challenges, SharpLink’s big purchases suggest some institutional investors see the lower prices as a chance to invest for the long term.
SharpLink(@Sharplink) just bought another 29,196 $ETH($46.7M).
Over the past 3 days, #SharpLink has bought a total of 39,196 ETH ($62.4M).https://t.co/RHx2SdZlX2 pic.twitter.com/EWwBTvRe1y
— Lookonchain (@lookonchain) June 28, 2026
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