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SharpLink, the Nasdaq-listed Ethereum treasury company trading under the ticker SBET, pulled in 509 ETH from staking rewards for the week ending June 22, 2026. That brings its total ETH holdings to 876,285, a stack worth north of $3B at current prices and large enough to make it the second-biggest corporate Ethereum holder on the planet.
Only BitMine holds more. For a company that launched its ETH treasury strategy barely a year ago, that is a staggering accumulation pace.
The numbers behind the staking machine
Since kicking off its Ethereum-focused treasury approach on June 2, 2025, SharpLink has racked up cumulative staking rewards of 22,102 ETH. The company went from roughly 1,388 ETH in early staking rewards to over 22,100 ETH in under 12 months.
The company’s average purchase price sits at $3,609 per ETH. That figure matters because it establishes a clear cost basis for investors trying to evaluate whether SBET shares represent a discount or premium to the underlying assets.
Back in July 2025, SharpLink held approximately 198,478 ETH. Fast forward less than a year, and that number has more than quadrupled to 876,285. The growth hasn’t come from staking rewards alone. SharpLink has been aggressively funding acquisitions through at-the-market share sales, essentially issuing new equity to buy more Ethereum.
Who’s running this operation
SharpLink’s leadership roster includes Ethereum co-founder Joseph Lubin and former BlackRock executive Joseph Chalom. SharpLink recognizes staking revenue under US GAAP accounting provisions, which means the ETH yield shows up on financial statements in a way that institutional investors and analysts can actually model.
In May 2026, the company announced the Galaxy Sharplink Onchain Yield Fund, a partnership designed to enhance its yield-optimization efforts beyond vanilla staking.
What this means for investors
SharpLink’s weekly staking disclosures give the market a regular heartbeat of data showing the treasury growing. For shareholders, SBET essentially functions as leveraged, yield-generating Ethereum exposure wrapped in a traditional equity structure.
That’s attractive for investors who want ETH exposure but can’t or won’t hold the token directly. Pension funds, retirement accounts, and institutional allocators who are restricted to equities can access Ethereum’s price appreciation plus staking yield through a single Nasdaq ticker.
The at-the-market share issuance strategy that funds these ETH purchases dilutes existing shareholders. If Ethereum’s price drops below that $3,609 average cost basis, SharpLink’s treasury is underwater. The staking yield provides a buffer, but 509 ETH per week against a treasury of 876,285 ETH represents an annualized yield of roughly 3%, which won’t offset a meaningful price decline.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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