Ethereum Foundation Sells 10,000 ETH in $25.7 million Institutional OTC Deal

- Ethereum Foundation sells 10,000 ETH to Sharplink Gaming in a $25.7 million deal. - Sharplink to use the purchased ETH for staking, signaling institutional confidence. On July 10, 2025, the Ethereum Foundation sold 10,000 ETH to Sharplink Gaming in an over-the-counter (OTC) deal valued at approximately $25.7 million. In a press release on July 11, Sharplink confirmed the transaction price of $2,572.37 per ETH, noting it was structured to minimize market volatility. Sharplink Gaming, a publicly traded company using Ethereum as its primary treasury reserve asset, plans to use the purchased ETH for staking and restaking to fortify the Ethereum network. According to Sharplink’s Chairman and Ethereum co-founder, Joseph Lubin, the acquisition is part of a long-term strategy aimed at enhancing decentralization and strengthening institutional participation in the ecosystem. Industry experts view this move as a sign of growing confidence in Ethereum’s infrastructure. For instance, Matthew Sigel, VanEck’s Head of Digital Assets Research, described the transaction as a cornerstone of long-term, participation-based strategic trust in the blockchain. This key sale coincided with other bullish developments for Ethereum. On July 10, Robinhood expanded its Ethereum staking services, previously available only in Europe, to U.S. customers in most states with a $1 minimum. In addition, BitMEX co-founder Arthur Hayes repeated his bullish prediction that Ethereum could reach $10,000, citing increased institutional activity and favorable technical trends. Amid intensified trading on July 11, Ethereum’s price surged past $3,000. This followed reports from the previous day that ETH’s 24-hour futures trading volume on July 10 had surpassed Bitcoin’s, a rare event that underscored high market activity. On July 12, 2025, data from CoinMarketCap showed Ethereum (ETH) trading at $2,953.77 as of 05:44 UTC, representing a 1.738% decrease over the previous 24 hours.