SharpLink has increased its Ethereum holdings by purchasing 19,271 ETH for approximately $75 million, bringing its total to nearly 860,000 ETH. This treasury, worth around $3.5 billion, positions SharpLink as a significant player in the Ethereum ecosystem.

Joseph Chalom, a former managing director at BlackRock, has been appointed as co-CEO of SharpLink Gaming, Inc., a company focused on Ethereum treasury management. Chalom's expertise in digital assets is expected to enhance SharpLink's strategic direction in the crypto space.

SharpLink Gaming has initiated a $1.5 billion share repurchase program, buying back 939,000 SBET shares at an average price of $15.98. The company, which holds approximately $3.6 billion in ETH and has no debt, believes its shares are undervalued and aims to enhance stockholder value through disciplined capital allocation.

The Ethereum Foundation plans to sell 10,000 ETH over the coming weeks through centralized exchanges to fund research, development, and ecosystem grants, amounting to approximately $43 million. This decision follows a recent treasury policy update and comes after the foundation previously sold 10,000 ETH to SharpLink Gaming. The ETH price has recently surged, reaching an all-time high in late August.