- SharpLink transfers $145M USDC to buy more Ethereum via Galaxy Digital
- Joseph Chalom joins as Co-CEO, advancing Ethereum-focused treasury strategy
- SharpLink now holds over 360,000 ETH, leading all public firms in ETH holdings
SharpLink Gaming has moved $145 million USDC to Galaxy Digital’s OTC desk, signaling an imminent Ethereum purchase. The transaction follows the firm’s continued expansion of its ETH treasury, already the largest among public companies. On-chain data confirmed the transfer of freshly minted USDC from Circle to SharpLink, which was then immediately routed to Galaxy Digital. Following this news, Ethereum price rose by 4% and reached a value of $3,740.
Ethereum Treasury Strategy Expands With $145M Transfer
The Ethereum treasury expansion by SharpLink Gaming is unfolding with remarkable speed. On July 25, the company sent $145 million USDC to Galaxy Digital, a major liquidity partner. The firm has previously sourced most of its Ethereum through Galaxy’s OTC services. Analysts believe that this will result in another massive purchase of ETH in the coming days.
SharpLink already holds 360,807 ETH, surpassing the Ethereum Foundation. It acquired more than 16,000 ETH in various OTC transactions in July alone. The total value of ETH purchases may surpass $1.3 billion soon with the most recent transfer. The company’s aggressive accumulation approach is reshaping corporate crypto allocation strategies.
Joseph Chalom Appointment Aligns With ETH Focus
The company’s Ethereum strategy is backed by its recent leadership shift. Joseph Chalom, BlackRock’s former Head of Digital Asset Strategy, has joined SharpLink as Co-CEO. He was instrumental in launching the iShares Ethereum Trust (ETHA), now holding over $10 billion in AUM. Chalom spearheaded BlackRock crypto integrations with Coinbase, Nasdaq, and Circle.
Joseph Lubin, Ethereum co-founder and Chairman of SharpLink, praised the appointment. Lubin observed that the presence of Chalom lends credibility to the role of ETH in global finance. He is confident that Chalom will further enhance institutional trust in the Ethereum ecosystem.
The company also indicated that Rob Phythian, the Chief Executive Officer, would become the President in the coming quarter. He will continue serving on the board.
SharpLink’s ETH Holdings Signal Market Transformation
SharpLink began its ETH treasury program in June 2025 with a $25.72 million purchase. Several weeks later, it purchased an additional 6,377 ETH at the price of $19.56M. This 145 million injection of USDC could drive the total ETH holdings to over 400,000. The current market capitalization of ETH is already 450 billion, and institutional demand remains high.
This aggressive acquisition rate, backed by former BlackRock leadership, could transform how companies handle digital assets. Investors are watching closely as SharpLink continues to position Ethereum at the center of its long-term growth strategy.
