SharpLink claims the #2 publicly traded ETH position with 864,597 ETH as of Dec 2025 and ~$3.2B in capital, positioning itself as an institutional Ethereum treasury and planning expanded staking/yield strategies in 2026 (crypto, ETH, adoption). Operational growth: Q4 staking revenue $15.3M (+~50% QoQ) and 14,516 ETH in staking rewards since June 2025 through native and liquid staking (staking, liquid staking, DeFi). Material market risk: reported $734.6M net loss (filed Mar 9) driven by $616.2M unrealized ETH losses and a $140.2M LsETH impairment, partly offset by $55.2M realized gains — underscores exposure to ETH price volatility and accounting headwinds for the treasury strategy.

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SharpLink has looked to place itself as one of the biggest public corporate holders of Ether, reporting that it had become the second-biggest publicly traded holder of ETH.
The firm also noted robust growth in staking revenue, having Q4 staking income attaining $15.3 million, up around 50% from the last quarter.

SharpLink listed a $734.6 million net loss for last year, mainly influenced by unrealised losses associated with the volatility in Ether’s market price, even as the firm’s staking operations accumulated record rewards.

In its full-year financial results published March 9, the Miami-based firm said the loss was initially the result of $616.2 million in unrealised losses on Ethereum (ETH) holdings and a $140.2 million impairment charge associated with LsETH, relatively offset by $55.2 million in realised gains from conversions and redemptions between ETH and liquid staking assets.

Regardless of the accounting losses, SharpLink listed robust operational growth associated with its Ethereum treasury strategy. Since the rollout of the programme in June 2025, SharpLink has accumulated 14,516 ETH in staking rewards through a mix of native staking, liquid staking and staking activities.

Second-Biggest Publicly Traded Holder

SharpLink placed itself as an institutional Ethereum treasury platform in 2025, generating around $3.2 billion in capital and generating a big ETH reserve intended to produce long-term yield via staking and treasury management.

By December 2025, the firm held 864,597 ETH, having holdings including both native ETH and assets changed from liquid-staking derivatives. The CEO Joseph Chalom mentioned the results show the influence of short-term crypto market volatility instead of a change in the firm’s strategy.

SharpLink has looked to place itself as one of the biggest public corporate holders of Ether, reporting that it had become the second-biggest publicly traded holder of ETH as of March 2026.

The firm also noted robust growth in staking revenue, having Q4 staking income attaining $15.3 million, up around 50% from the last quarter. Management mentioned it plans to continue widening its staking and yield strategies in 2026 while aiming for a surge in ETH per share, a metric used internally to trace treasury productivity.

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