Sharplink now holds 867,798 ether (ETH) valued at approximately $1.68 billion as of Feb. 15. The scale positions the Consensys-backed firm among the largest dedicated Ethereum treasury vehicles in the market.
The total includes 225,429 ETH if redeemed from the liquid staking token LsETH and 55,137 ETH if redeemed from ether.fi’s wrapped WeETH, according to a company press release Thursday. Sharplink said it has generated 13,615 ETH in staking rewards in under a year, all accruing to shareholders. That figure comprises 4,560 ETH from native staking, 8,906 ETH from LsETH rewards, and 149 ETH from WeETH rewards.
Can Ethereum Treasuries Sustain Yield At Scale?
Sharplink stakes nearly 100% of its holdings and has done so since inception, according to Chief Executive Officer Joseph Chalom, who joined from BlackRock. The firm said institutional ownership of its common stock reached 46% as of Dec. 31, based on Form 13F filings, and added roughly 60 new institutional investors in the fourth quarter of 2025. The disclosures indicate growing institutional appetite for token-denominated balance sheets.
Sharplink launched during last year’s digital asset treasury expansion and is currently the second-largest Ethereum treasury, according to data. Other firms such as Galaxy Digital and Bullish hold more ETH in absolute terms but are not pure-play Ethereum treasury vehicles. Yet several ETH-focused treasuries have diversified away from simple token accumulation after volatility pressured valuations.
“Sharplink stakes nearly 100% of its ETH holdings and has staked our holdings since the beginning,” Chalom said in the release.
He added that even during volatile markets, the firm continues increasing ETH concentration per share and prioritizes institutional-grade risk management.
The model depends on sustained staking yields and stable demand for equity exposure to ETH. Investors will watch whether continued accumulation and reward generation translate into tighter share premiums and additional institutional inflows in coming quarters.
