SharpLink Gaming has announced plans to raise an additional $400 million to enhance its Ethereum treasury, expecting its total ETH holdings to exceed $3 billion. The firm will issue shares at $21.76 each to five global institutional investors, with the sale expected to close soon. This fundraising follows the company's recent success in raising nearly $900 million within a week, signaling strong investor confidence in SharpLink and interest in Ethereum's potential. SharpLink's stock fluctuated significantly, starting around $24, peaking at $28, and closing down 6.6% at $22.34. Despite this volatility, the stock remains up over 17% for the week. The surge in Ethereum prices, which currently sits at $4,220, reflects a broader trend of treasury firms accumulating significant amounts of the cryptocurrency. Multiple firms are now holding billions worth of Ethereum, and their combined assets might represent a considerable portion of the total circulating supply. SharpLink aims to possess 1% of Ethereum's total supply—an ambitious target given its current holdings of nearly 600,000 ETH valued at around $2.5 billion.

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