Nasdaq Firm Amasses $1.9 Billion in Ethereum Amid Crypto Rally

In a bold move, a Minneapolis-based firm has significantly expanded its Ethereum holdings, amassing a digital treasure trove worth nearly $1.9 billion. The company, SharpLink, has grown its ETH stash to 521,939 coins, making it one of the largest Ethereum treasuries held by a publicly traded entity.

The firm's crypto-focused pivot has paid off handsomely, with its stock price skyrocketing by over 420% since the end of May 2025. This surge was fueled by SharpLink's decision to raise $425 million to establish an Ethereum treasury back in May, followed by a spending spree that saw the company invest $780 million in ETH just last month.

The rise in Ethereum's value has been a boon for SharpLink, with the second-largest cryptocurrency trading at around $3,631 per coin as of August 6, 2025. While still below its all-time high of $4,878 reached in 2021, ETH has rallied by over 44% in the past 30 days, driven by increased institutional adoption and the launch of several Ethereum-based exchange-traded funds.

SharpLink's bold crypto bet appears to be paying off, as the company's stock continues to soar on the Nasdaq exchange. This move follows a trend of publicly traded firms, such as Peter Thiel-backed Bitcoin miner BitMine Immersion, building substantial Ethereum treasuries in a bid to capitalize on the growing institutional interest in the digital asset.