SharpLink generates 499 Ethereum from staking rewards this week, total holdings near 888K ETH

SharpLink reported 499 ETH in staking rewards over the past week, lifting cumulative staking income to 23,490 ETH and total Ethereum holdings to 887,673 ETH. The Nasdaq-listed company is now the second-largest public ETH treasury holder behind Bitmine Immersion Technologies. The update reinforces SharpLink’s role as a leveraged public-market proxy for Ethereum, with investor returns tied not just to ETH price but also to ETH per share. Management has resumed buying ETH, including 5,000 ETH on June 25 and another 10,000 ETH at an average of $1,611, below its stated portfolio average cost of $3,586. The article highlights that staking plus direct purchases have expanded holdings by roughly 14,700 ETH in about two months, while at-the-market share issuance can dilute exposure. Overall, the piece is constructive for ETH treasury accumulation, but neutral on near-term ETH price action.