Ethereum Treasury Firm Sharplink Now Holds 867,798 ETH

TL;DR

• Consensys-backed Ethereum treasury firm Sharplink now holds 867,798 Ether tokens.

• The CEO revealed that the company stakes nearly 100% of its ETH holdings and has staked our holdings since the beginning.

Sharplink Now Holds Over 860k ETH Tokens

Sharplink , the Ethereum treasury company backed by Consensys, now holds 867,798 ETH, valued at approximately $1.68 billion.

The company revealed that the total holdings include 225,429 ETH if redeemed from the liquid staking token LsETH and 55,137 ETH if redeemed from ether.fi’s wrapped WeETH.

Sharplink added that it also generated 13,615 ETH in staking rewards in under a year, all of which have accrued to stockholders.

The firm’s press release revealed that the staking rewards include 4,560 ETH from staking directly on Ethereum, and 8,906 tokens as-if redeemed LsETH staking rewards and 149 as-if redeemed WeETH staking rewards.

While commenting on this latest development, Joseph Chalom, Sharplink CEO who joined from BlackRock, stated that,

"Sharplink stakes nearly 100% of its ETH holdings and has staked our holdings since the beginning. Even during volatile markets, we continue growing our ETH concentration per share. No matter the price of the underlying asset, institutions know they can trust us to keep generating long-term value for our stockholders."

Sharplink added that institutional ownership of its stock has grown to 46% as of Dec. 31. In the last quarter, the firm added approximately 60 new institutional investors, according to the announcement.

"This record level of institutional ownership confirms that sophisticated investors want disciplined execution and institutional-grade risk management," Chalom added.

Thanks to this latest development, Sharplink is the second-largest Ethereum treasury, behind Tom Lee’s BitMine. 

Cryptocurrency treasuries have underperformed in recent months as Bitcoin, Ether, and other major cryptocurrencies are down by 50% or more from their recent highs.

The bearish performance has seen several Ethereum-focused firms diversify away from pure token accumulation. ETHZilla, for instance, has leaned into tokenization. 

 ETH is trading below $2k after losing less than 1% of its value in the last 24 hours.