Sharplink Just Bought More Ethereum as ETH Hit a New 2026 Low

Sharplink has made its return to the market after eight months of no activity. The firm made its first Ethereum purchase, adding 5,000 ETH. This is worth about $7.85 million according to today’s market prices.

According to Lookonchain, Sharplink bought 5,000 Ethereum from crypto trading firm FalconX on Thursday. The purchase is the company's first ETH acquisition since October 2025. At that time, the firm bought 19,270 tokens at around $78.3 million.

Source: Lookonchain

The company has not publicly confirmed the new buy. However, the transaction has gained attention from traders because the buy comes just as the ETH price hit a new 2026 low.

Sharplink maintains massive Ethereum Holdings

Even before this new purchase, the firm was already one of the largest holders of ETH, right behind Bitmine.

The company held 876,285 ETH, worth around $1.3 billion, as of June 21. Lookonchain data suggests that the tokens were purchased at a price of $3,609 per ETH. The coin currently trades way below that price, which means the company is currently sitting on paper losses. Its unrealized loss was said to be around $1.79 billion.

Meanwhile, the firm has been growing in other areas since it rebranded from SharpLink Gaming in February. It expanded from simple staking activities into on-chain yield strategies during this period. That seems to be paying off. Its first-quarter revenue came in at $12.1 million, compared to last year’s $742,000.

In other developments, the firm joined Bitmine in supporting a nonprofit project called Ethlabs. Ethereum Foundation researchers started this to boost institutional adoption in the coming years.

Sharplink, Bitmine to join Russell Index

The timing of the new purchase is also interesting because Sharplink is expected to join both the Russell 2000 and Russell 3000 indexes on Monday.

This is an important development for the firm because many investment funds and exchange-traded funds automatically buy stocks that enter these indexes. In essence, this inclusion could potentially boost the demand for the company’s shares. 

Notably, another Ethereum treasury company, Bitmine, is set to join the Russell 1000 Index as well. This comes just as the firm continued its ETH purchases this week, adding another 52,203 Ethereum worth $92 million.

According to Datawallet, Bitmine owns 4.7% of ETH’s supply, with Sharplink holding 0.7%.

Source: Datawallet

ETH Price hits new 2026 low

The Ethereum price is down about 5% in the past 24 hours, dropping to its lowest level in 2026. This came as the BTC price crashed to $58,042, leading to massive liquidations in the market. ETH fell as low as $ 1,504 in the late trading hours of Thursday before recovering to around $ 1,570 on Friday.