Ethereum News Update: SharpLink's Bold ETH Strategy: Staying the Course Despite $500 Million in Losses and Waning Investor Trust

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Bitget-RWA2025/11/19 08:14

By:Bitget-RWA

- SharpLink , first public company to hold ETH as primary reserve, transferred $17M ETH to Galaxy Digital amid $479M unrealized losses. - ETH price dropped 20% in November to $3,000, below SharpLink's $3,609 average cost, as company holds 0.712% of total ETH supply. - SBET stock plummeted 86% to $10.55, trading at 19% discount to NAV, reflecting investor skepticism amid crypto market uncertainty. - Despite losses, SharpLink maintains ETH accumulation strategy, recently earning 336 ETH in staking rewards (t

SharpLink, recognized as the first publicly traded firm to adopt

Ethereum

(ETH) as its main reserve currency, has moved $17.02 million in

ETH

to Galaxy Digital, even as it faces an unprecedented $479 million in unrealized losses,

according to data from Onchain Lens and Arkham

. This transfer has led to speculation that the company may be trying to minimize losses or adjust its crypto portfolio as ETH values continue to slide. ETH has dropped over 20% in November and is now hovering around $3,000,

which is significantly below SharpLink's average acquisition cost of $3,609

The movement of 5,442 ETH to Galaxy Digital—a prominent digital asset management firm—has heightened concerns about SharpLink's approach during this extended market slump. The company currently possesses 859,853 ETH,

accounting for 0.712% of the total ETH in circulation

, with a market value exceeding $2.6 billion. This makes

SharpLink

the second-largest institutional holder of ETH, just behind Bitmine. However, as ETH prices continue to fall, the company's unrealized losses have surged,

with some reports estimating total losses to be over $500 million

SharpLink's financial woes are also evident in its share price. The company's ticker,

SBET

, has tumbled from above $80 at the start of its ETH reserve initiative to $10.55 in November, marking a drop of more than 86%. The stock is now trading 19% below its net asset value (NAV),

highlighting investor concerns about the company's future prospects

. At the same time, overall sentiment toward ETH has shifted.

Data indicates that digital asset trusts (DATs)

have slowed their ETH accumulation, with purchases no longer happening daily as they did earlier this year.

Ethereum News Update: SharpLink's Bold ETH Strategy: Staying the Course Despite $500 Million in Losses and Waning Investor Trust image 0

Despite these setbacks, SharpLink continues to pursue its ETH accumulation plan.

In a recent update on X, the company shared

that it earned 336 ETH in staking rewards last week, raising its total staking rewards to 7,403 ETH—valued at about $1.1 million. Nearly all of SharpLink's ETH holdings are staked, reflecting its confidence in the asset's long-term potential.

The market's response to SharpLink's recent moves highlights the ongoing uncertainty in the cryptocurrency industry. With ETH prices approaching key support levels and institutional interest waning, the company's future actions are likely to draw significant attention.

Experts point out that while selling ETH could offer

immediate liquidity, it may also be interpreted as a lack of faith in ETH's future recovery.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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