The firm cites early signs of a crypto market rebound as it buys ETH ahead of Russell index inclusion next week.
Sharplink has restarted Ethereum purchases after an eight-month hiatus, acquiring ETH as the token fell to its lowest level since 2026. The move aligns with the company’s long-term accumulation strategy, with Bitmine chairman Tom Lee stating the firm sees the start of a crypto market recovery.
The purchase precedes Sharplink’s expected inclusion in the Russell 2000 and Russell 3000 indexes on Monday. Index inclusion typically drives demand from active and passive funds, including ETFs. Executives previously noted the listing would expand the company’s investor base and improve capital access.
No immediate market reaction was disclosed in the announcement.