- SharpLink approves a $1.5B buyback to strengthen ETH per share and boost investor value.
- It holds 740,760 ETH, worth $3.19B, reinforcing its crypto-driven identity.
- SBET surged 10% to $19.85 after the buyback announcement and crypto rally.
SharpLink Gaming, Inc. (Nasdaq: SBET), one of the largest corporate holders of Ethereum, has authorized a $1.5 billion stock repurchase program in a bold step that reinforces its Ethereum-focused strategy. The company said the buyback is designed to strengthen ETH-per-share value while giving management the flexibility to act quickly when market conditions align.
ETH at the Heart of Every Share
SharpLink currently holds 740,760 ETH, valued at about $3.19 billion, making it one of the most prominent Ethereum treasuries in the world. Unlike other firms that simply hold crypto as a hedge, SharpLink has made Ethereum the centerpiece of its corporate identity. Its mission, in the words of company leadership, is to accumulate ETH, stake ETH, and grow ETH-per-share.
SharpLink Authorizes $1.5 Billion for Stock Repurchases (Source: X)
The repurchase plan is central to that mission. Management explained that when SBET stock trades at or below the net asset value (NAV) of its Ethereum holdings, issuing new equity risks diluting the ETH backing per share.
By contrast, buybacks increase the concentration of ETH tied to each share, compounding long-term value for shareholders. Co-Chief Executive Officer Joseph Chalom said the program reflects a disciplined approach to capital management.
“Should there exist periods where our stock trades at or below the NAV of our ETH holdings, it would be dilutive on an ETH-per-share basis to issue new equity,” he said. “In this scenario, the accretive course of action may be to repurchase our common stock. This program provides us with the flexibility to act quickly and decisively if those conditions present themselves.”
Beyond Holding ETH: The Buyback Edge
The decision underscores a broader philosophy: holding ETH alone is not enough. SharpLink intends to measure its growth in ETH-per-share, not just in nominal ETH terms. Every repurchase, executives say, makes each remaining share more tightly linked to Ethereum’s value.
The buyback program does not obligate the company to purchase a specific number of shares. Transactions may occur in the open market, through private negotiations, or by other means permitted under securities laws.
Management emphasized that the plan can be adjusted, suspended, or ended at any time, depending on conditions such as trading volumes, price movements, and capital needs. This flexibility allows SharpLink to respond dynamically while preserving the long-term integrity of its Ethereum-based strategy.
Market Response and Broader Context
News of the authorization quickly lifted investor sentiment. On Friday morning, SBET shares jumped more than 15% to $20.87, fueled by enthusiasm over the buyback as well as a broader crypto rally. Bitcoin rose sharply after Federal Reserve Chair Jerome Powell signaled the possibility of a September rate cut, boosting demand across digital assets.
The announcement comes as more corporations explore Ethereum treasury models, seeking to capture staking rewards and align themselves with decentralized finance. SharpLink, however, has gone further, explicitly branding itself as a “trusted Ethereum treasury” and advocating for ETH adoption at the institutional level.
By tying its equity directly to Ethereum and backing this with a massive buyback, the company has positioned SBET stock as both a corporate equity play and an Ethereum exposure vehicle. Analysts say this dual identity may attract investors who want traditional stock exposure with a direct link to ETH growth.
Looking Forward
While the crypto market remains volatile, SharpLink’s program signals confidence in Ethereum’s long-term value. With billions already allocated to ETH holdings and $1.5 billion earmarked for potential buybacks, the company is betting big that its Ethereum-centered approach will pay off.
For shareholders, the message is straightforward: SharpLink is not only holding ETH, it is working to grow it per share. The buyback program cements that goal, making every repurchase an act of reinforcing Ethereum’s role in the company’s future.
