SharpLink Gaming, Inc. (Nasdaq: SBET), a frontrunner in the digital asset space and one of the globe’s largest corporate holders of Ether, has made waves in the cryptocurrency market by raising an impressive $76.5 million through a registered direct equity offering at $17 per share. This pricing represents a 12% premium over its closing value of $15.15 on October 15. The news has captivated investors and strategists alike, redefining how cryptocurrency companies approach capital raising in today’s dynamic environment.
“We’ve raised $76.5M by issuing equity at $17 per share (12% premium to market), with the potential for ~$79M more though a novel 90-day premium purchase contract at $17.50 per share (19% premium) – the first of its kind in the DAT ecosystem.” – SharpLink Gaming Twitter, October 16, 2025
This bold move was executed through a securities purchase agreement with an institutional investor, covering 4.5 million shares of common stock. Notably, this offering is among the few recent equity raises within the digital asset treasury (DAT) ecosystem that were conducted at both a market and net asset value (NAV) premium. It signals a growing wave of institutional confidence in SharpLink’s robust Ether-centered strategy, fortifying its role as a trailblazer in Ethereum adoption among publicly traded companies.
Alongside this significant capital raise, the investor was granted a pioneering 90-day premium purchase contract (PPC). This groundbreaking instrument allows them to buy up to an additional 4.5 million shares at $17.50 each, which is a 19% uplift from SharpLink’s closing price on October 15. Should the PPC be completely executed before its expiration on January 15, 2026, it could generate an eye-popping $78.8 million, bringing the total capital raised to over $155 million. It’s a smart mechanism that enables SharpLink to invite more accretive capital streams without sacrificing shareholder equity.
SharpLink’s Co-CEO, Joseph Chalom, described the fundraising effort as a “novel equity sale transaction,” underlining the strong institutional confidence in the long-term vision of the company. He emphasized, “By raising equity at a meaningful premium to both market price and NAV, we’re able to further accumulate ETH, ultimately boosting our ETH-per-share for investors.” Chalom’s vision shows no sign of wavering; he reaffirmed the company’s commitment to cultivating the most trusted, long-term treasury in the Ethereum realm. His words resonate with optimism as retail and institutional adoption of Ethereum continues to accelerate, spanning stablecoins, tokenized assets, and decentralized finance (DeFi).
The capital from this latest raise is earmarked for enhancing SharpLink’s ETH-per-share ratio while expanding its Ethereum treasury holdings, continuing the firm’s strong momentum under the ticker $SBET. A.G.P./Alliance Global Partners facilitated the offering, with Thompson Hine LLP serving as legal counsel to SharpLink and Sullivan & Worcester LLP advising A.G.P.
This initiative not only positions SharpLink as a key player in the publicly traded Ethereum arena; it also aligns with its overarching mission to establish a “long-term, ETH-per-share-obsessed treasury.” By blending equity market access with disciplined ETH accumulation, SharpLink aims to redefine how companies engage with the crypto space.
At the recent Digital Assets Summit (DAS) 2025 held in London, Joseph Chalom took center stage alongside Joseph Lubin, the founder and CEO of Consensys. In this engaging panel discussion, Chalom shared insights on the upcoming phase of institutional adoption which he predicts will be driven more by solid fundamentals rather than mere hype. “I believe you’re going to see significant differentiation moving forward. For those who value growth, it’s essential to focus on high-quality growth assets with real fundamental value,” he remarked, highlighting the need for a strategic pivot in how institutions view and utilize digital assets.
“I think you’re going to see a significant differentiation, going forward, and if you believe in growth and you want growth assets, maybe go to high-quality growth assets that can stand the test of time, that have a real fundamental value and are productive.” – Digital Asset Summit 2025, Twitter
Investors have reacted positively to SharpLink’s new strategies; shares of SharpLink Gaming Inc. (Nasdaq: SBET) experienced a staggering 435% surge over the past six months, closing at $14.77 on October 16, 2025. This remarkable rally has propelled the company to become one of the largest corporate holders of Ether and further solidify its Ethereum-based treasury strategy. With a market capitalization now at $2.9 billion, the firm is on the rise following its $76.5 million equity raise at a premium.
Despite experiencing wild price fluctuations earlier this year, including a surge above $80 in June 2025, investor sentiment remains robust. This signals a broader optimism in the digital asset ecosystem and corporate treasury tokenization. The ongoing commitment of SharpLink to enhance its ETH per share is central to its narrative as a reliable proxy for Ethereum exposure in public markets, embodying a resurgence in digital assets and their adoption.
In a world where volatility tends to overshadow innovation, SharpLink Gaming stands out as a beacon for strategic growth, both in the Ethereum sector and in the broader cryptocurrency landscape. Are you ready to follow their journey? Stay tuned as the story unfolds!
Disclosure: The writer holds a small personal position in SharpLink Gaming (Nasdaq: SBET).