Sharplink Adds 10K ETH at $1,611 Avg as ETF Outflows Hit Seventh Week

Ether treasury company Sharplink purchased 10,000 ETH worth roughly $16 million over two trading days last week, ending an eight-month pause in its accumulation strategy at a moment when spot Ether ETFs are logging their seventh consecutive week of net outflows. Onchain data from Arkham showed Sharplink acquiring 5,000 ETH on Thursday, followed by another 5,000 ETH worth $7.9 million on Friday, with the company confirming the buys in a Tuesday statement citing an average entry price of $1,611 per ETH.

The purchases lift Sharplink’s total ETH holdings to 866,725 tokens, restoring the company’s position as one of the largest corporate holders of Ether alongside rival treasury firm Bitmine. “The Company’s ETH purchases reflect its continued commitment to growing its ETH treasury as a long-term reserve asset,” Sharplink said in the statement.

Buying into a falling market

The accumulation resumes as ETH itself is under pressure: the asset is down 22.8% on a monthly basis and nearly 50% since the start of the year, weakness severe enough to let Tether’s USDT stablecoin briefly overtake Ether’s market capitalization last week. Institutional flow data compounds the divergence — US spot Ether ETFs recorded $12.9 million in net outflows last week, their seventh straight week in the red, with withdrawals concentrated in BlackRock’s iShares Ethereum Trust (ETHA).

That combination — a treasury company buying at a lower average price while ETF vehicles bleed capital — signals a split between institutional passive flows and corporate balance-sheet conviction. Sharplink’s average buy price of $1,611 sits well above ETH’s current spot level near $1,781 reported at publication, though the wider trend line shows the asset has round-tripped sharply from earlier in the year.

Ethlabs backing adds institutional framing

The buying spree coincided with Sharplink and Bitmine jointly backing a new nonprofit, Ethlabs, alongside Ethereum co-founder and Sharplink chairman Joe Lubin. The organization is designed, in the companies’ words, to “ready Ethereum for the next phase of institutional adoption.”

“As stablecoins, tokenized real-world assets, funds and autonomous AI commerce move on-chain, they are converging on Ethereum as the neutral, credibly permissionless settlement layer for the global economy,” Sharplink said. “Ethlabs exists to ensure the network is ready to absorb that demand at scale.”

The Ethlabs announcement frames the ETH purchases as part of a broader institutional thesis rather than an opportunistic dip-buy, positioning Sharplink’s treasury strategy alongside infrastructure lobbying for stablecoins and tokenized real-world assets settling on Ethereum.

What the flow data implies

For traders tracking treasury-company behavior as a sentiment proxy, Sharplink’s return to active accumulation after eight months of inactivity is a notable data point set against the backdrop of persistent ETF redemptions. The divergence between corporate accumulation and ETF outflows leaves open the question of whether treasury buying can offset the drag from passive fund redemptions, particularly with ETHA withdrawals cited as the primary driver of the outflow streak.

Read more: HBAR ETF Inflows Snap Three-Week Drought as Price Holds $0.071 Support