Ethereum Foundation Sells 10,000 ETH to SharpLink in Landmark OTC Transaction
In a significant milestone for crypto markets, the Ethereum Foundation has sold 10,000 ether (ETH) to SharpLink Gaming in a private over-the-counter (OTC) deal valued at roughly $25.7 million. It’s the first time a publicly listed company has purchased ETH directly from the Foundation, which serves as the protocol’s core steward.
The transaction was finalized at an average price of $2,572.37 per ETH and settled on-chain through the Foundation’s multisignature wallet on July 10. Proceeds will fund the Ethereum Foundation’s core initiatives and development work.
Earlier this week, the Foundation confirmed the deal in a statement:
“Earlier this week, the EF finalized the terms of a 10,000 ETH sale at an average price of $2,572.37 via OTC.”
SharpLink, traded on Nasdaq under the ticker SBET, described the purchase not merely as an investment but as a strategic commitment to Ethereum’s future. The company plans to make ETH its primary treasury reserve asset and intends to stake and restake the tokens—effectively reducing circulating supply.
“This isn’t a trade—it’s a commitment,” said Joseph Lubin, Chairman of SharpLink and co-founder of Ethereum. “SharpLink is acquiring, staking, and restaking ETH as responsible industry stewards, removing supply from circulation and reinforcing the health of the Ethereum ecosystem.”
Lubin added that the move sets a precedent for how mission-driven organizations might align their treasury strategies with Ethereum’s long-term vision:
“Moreover, we see this as the start of something bigger—a model for how mission-driven organizations can work to advance our ecosystem’s shared goals of decentralization, economic empowerment, and protocol-native finance.”
This development comes amid rising momentum for ETH in financial markets, with inflows into Ethereum ETFs picking up, renewed interest in ETH-based corporate treasuries, and growing enthusiasm for protocol-native finance solutions.
As of Friday morning U.S. time, ETH was trading above $3,000, up more than 8% in the past 24 hours.
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