SharpLink, an Ethereum-centric company, saw its stock surge over 15%, surpassing $20 following the board’s approval of a $1.5 billion stock repurchase initiative.
In a press release dated August 22, SharpLink indicated that the authorization allows for buybacks via various methods, including open-market transactions and private negotiations.
The firm noted that the extent of the repurchases will be influenced by factors such as trading climates, liquidity, and market pricing.
Additionally, the company clarified that this initiative does not obligate it to a specific number of shares, allowing the board to halt or terminate the program should conditions shift.
Reasons Behind SharpLink’s Stock Buyback Initiative
According to Co-CEO Joseph Chalom, this strategy aims to prevent dilution and bolster the company’s Ethereum-per-share value.
He elaborated that issuing more equity could diminish ETH concentration if the trading price is at or below the net asset value (NAV) of its ETH holdings, making share repurchases the more advantageous choice.
Each repurchase is expected to enhance the ETH backing of each share, yielding compounded long-term benefits for investors.
In summary, the firm articulated its overarching goal as the acquisition and staking of ETH with transparency and institutional discipline. By combining buybacks with its Ethereum treasury approach, SharpLink seeks to enhance shareholder trust while concentrating on ETH growth per share.
How Ethereum’s Rally Affects SharpLink’s Stock
Despite the importance of the buyback plan, SharpLink’s recent stock growth was primarily driven by ETH’s price increase following dovish remarks from US Federal Reserve Chair Jerome Powell regarding the economy.
Data from CryptoSlate indicates that ETH has risen over 13% within the past 24 hours, hitting $4,876 at the time of this report.
This surge is part of a larger market upswing, which has seen Bitcoin and other leading digital assets achieve notable gains, elevating the total crypto market to over $4 trillion earlier today.
As per data from Strategic ETH Reserve, SharpLink stands as the second-largest corporate holder of Ethereum, boasting 740,800 ETH valued at $3.59 billion.
The organization is standing on an unrealized profit exceeding $1 billion and has gained over 1300 ETH through staking its full holdings.
Ethereum Market Overview
As of this report 1:28 pm UTC on Aug. 23, 2025, Ethereum ranks #2 by market capitalization, with prices up 11.64% in the last 24 hours. Ethereum’s market cap stands at $569.63 billion with a 24-hour trading volume of $79.34 billion. Learn more about Ethereum ›
Cryptocurrency Market Summary
As of this report 1:28 pm UTC on Aug. 23, 2025, the total cryptocurrency market is valued at $3.99 trillion, along with a 24-hour volume of $257.15 billion. Bitcoin dominance is currently at 57.58%. Learn more about the cryptocurrency market ›
