On May 27th, COINOTAG News reported a staggering **650% surge** in the stock of SharpLink Gaming, a **NYSE-listed** company dubbed the “ETH Version Microstrategy,” now trading at **$49** per share. Just three trading days prior, the stock was valued at **$2.79**, marking a remarkable increase of **17.56 times** within that short period. This dramatic rise is attributed to the company’s recent announcement concerning an **Ethereum treasury reserve strategy**.
SharpLink aims to raise a substantial **$425 million** to bolster its **ETH holdings**, with **Consensys Software Inc.** leading the investment round. Other notable participants in this initiative include established firms such as **ParaFi Capital**, **Electric Capital**, **Pantera Capital**, and **Galaxy Digital**. The transaction is slated for completion on May 29th. The raised funds will be strategically utilized to acquire **Ethereum**, establishing it as the primary treasury asset for SharpLink Gaming.