SharpLink Moves ETH to Galaxy Digital Amid $479 Million in Unrealized Losses
SharpLink transferred 5,442 ETH to Galaxy Digital amidst significant unrealized losses from its ETH reserve strategy.Summary
SharpLink, the first publicly listed company using Ethereum (ETH) as its primary reserve asset, transferred 5,442 ETH (worth about $17.02 million) to Galaxy Digital. This move has sparked speculation that the company might be selling to cut losses or rebalance its portfolio, especially as ETH dropped over 20% in November.
SharpLink is currently facing substantial unrealized losses, reported at $479 million by Strategic ETH Reserve (SER) data, or over half a billion USD according to CryptoQuant, due to ETH's price decline from its average purchase price of $3,609. Despite this, SharpLink maintains a long-term commitment to its ETH accumulation strategy, with nearly all of its 859,853 ETH staked, and recently reported generating $1.1 million in staking rewards last week.
This situation highlights a broader trend where ETH-focused Digital Asset Trusts (DATs) are showing caution, though SharpLink's Q3 2025 revenue of $10.8 million was significantly boosted by its ETH treasury strategy.
(Source：BeInCrypto)