Ethereum Dips, Treasuries Buys: SharpLink Adds 19K ETH, Now Worth $3.5B

Core Insights - Institutional confidence in Ethereum remains strong despite its price struggles, with significant purchases from major holders like SharpLink Gaming and BitMine Immersion Technologies [1][3][4] Group 1: Institutional Purchases - SharpLink Gaming increased its Ether holdings by over 19,000 ETH, bringing its total to 859,853 ETH valued at approximately $3.5 billion as of October 19, 2025 [1] - BitMine Immersion Technologies acquired 379,271 ETH, raising its total holdings to over 3 million ETH, which constitutes roughly 2.5% of all Ether in circulation [3] Group 2: Market Conditions - Ethereum's price is currently $3,960, reflecting a 0.7% decline over the past 24 hours and a 12% drop over the past month, influenced by macroeconomic factors including tariffs on Chinese goods [2] - SharpLink's recent purchase of 19,271 ETH was made at an average cost of $3,892 per ETH, capitalizing on what the company described as "attractive market conditions" following a market sell-off [4] Group 3: Capital Raising and Strategy - SharpLink raised $76.5 million through a direct equity offering, allowing it to purchase ETH at lower market prices, which is expected to be accretive to shareholders [5] - The company's updated balance sheet indicates it holds 601,143 native ETH and an additional 258,710 ETH from a liquid staking derivative [5]