From Yahoo Finance: 2025-05-28 15:15:00

The iShares Ethereum Trust (ETHA) received $32 million in inflows as Ether prices surged to three-month highs. SharpLink Gaming Inc. (SBET) plans to raise $425 million to purchase Ether, causing Ether to jump 4% and SharpLink shares to soar 433% to $35.83, more than five times the capital raise price.

SharpLink’s rally drew comparisons to MicroStrategy Inc., now Strategy Inc. (MSTR), which transformed into a Bitcoin holding company in 2020. Like Strategy, SharpLink is not a crypto-focused company but operates as a marketing partner for sportsbook and online casino gaming platforms.

Crypto bulls believe SharpLink could replicate Strategy’s success with Bitcoin for Ether. Strategy initially bought Bitcoin when its market cap was under $1.5 billion, now worth over $100 billion. This strategy involves raising capital, fueling stock surges, and leveraging enthusiasm to fund more Ether purchases.

Despite Bitcoin trading near $110,000, 62% above its 2021 peak, Ether remains around $2,700, 44% below its all-time high. Concerns about Ether’s role in the smart contract space and competition from blockchains like Solana contribute to its underperformance compared to Bitcoin.

Spot Bitcoin ETFs have attracted nearly $10 billion since 2025, while Ether ETFs only saw $100 million in inflows. The iShares Bitcoin Trust ETF (IBIT) holds $72.4 billion in assets, significantly more than ETHA’s $3.6 billion. SharpLink’s potential impact on Ether’s market remains uncertain, but the recent surge in interest is promising for the cryptocurrency.



Read more at Yahoo Finance: SharpLink Announcement Breathes New Life Into Ether ETFs