SharpLink and Bitmine are holding more ETH than the Ethereum Foundation, demonstrating a significant shift in public cryptoasset investment.
These two lesser-known companies have accumulated and increased their ETH position to over $1 billion each, alongside a dramatic growth in Ethereum ETF and futures markets.
- SharpLink Gaming and Bitmine Immersion Technologies are the two largest ETH holders in the public stock market.
- ETH Futures and ETF are witnessing record capital flows, reflecting strong institutional investor confidence.
- The competition between SharpLink and Bitmine is shaping how the public market intersects with DeFi and the Ethereum ecosystem.
How Did SharpLink Make Its $1 Billion Bet?
SharpLink Gaming, based in Minneapolis, is known as one of the largest ETH holders with 280,706 ETH, valued at over $1 billion at current prices.
By raising up to $400 million through stock issuance in the market, SharpLink not only holds ETH but also applies a Staking strategy to optimize returns. The company has publicly disclosed the "ETH per share" index to transparentize cryptoassets in the traditional stock market, providing a long-term vision of Ethereum and DeFi sector's growth potential.
How Does Bitmine Implement Its ETH Holding Strategy?
Bitmine Immersion Technologies, led by Tom Lee from Fundstrat, owns 300,657 ETH valued at approximately $1.13 billion and is striving to become the largest ETH reserve organization in the public market.
Backed by Peter Thiel, former PayPal CEO, Bitmine leverages cryptocurrency mining cash flow and Derivative instruments like ETH Options, aiming to control about 5% of circulating ETH supply. The strategy targeting becoming an "ETH shareholder" similar to MicroStrategy with BTC has strongly attracted institutional investors on Wall Street, while contributing to Ethereum's promotion in the decentralized market.
The competition between SharpLink and Bitmine is a fierce race of "defeating direct competitors" in ETH accumulation.
Joseph Lubin, Ethereum co-founder, July 2025
What Are the Results of Large Organizations Investing in ETH?
The aggressive ETH buying and holding by SharpLink and Bitmine is not merely a price increase signal but also a strategic long-term support for Ethereum's position in the global financial ecosystem.
Data from Coinglass shows the Open Interest (OI) of ETH Futures Contract has surged to $50 billion as ETH price crosses the $3,500 threshold, indicating large-scale institutional investor activity in the Derivative segment. Simultaneously, capital inflow into ETH ETF funds peaked this week at $2.18 billion, raising total managed assets over $18 billion, further proving the strong growth of confidence in this cryptocurrency.
Source: Coinglass
Institutional capital flowing into ETH helps consolidate confidence in Ethereum's long-term prospects within the DeFi market structure.
TinTucBitcoin Market Analysis, 2025
What Unique Characteristics Do These Companies Have in Their ETH Ownership Strategy?
| Company | ETH Owned | ETH Value (Billion USD) | Prominent Strategy | Notable Support |
|---|---|---|---|---|
| SharpLink Gaming | 280,706 ETH | ~1.0 Billion | Staking & Public ETH-per-share | $400 Million Capital Scale |
| Bitmine Immersion Technologies | 300,657 ETH | ~1.13 Billion | Mining Cash Flow + ETH Options | Peter Thiel, Tom Lee |
