SharpLink Gaming is the second-largest known Ethereum holder, according to Arkham Intelligence data, trailing only the Ethereum Foundation’s 214,129 ETH treasury valued at over $540.7 million

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The purchase positions SharpLink behind only the Ethereum Foundation, the independent organization overseeing the Ethereum ecosystem, which holds 214,129 ETH valued at over $540.7 million, according to crypto data tracker Arkham.

SharpLink said in its blog post that, on a broader scale, that its Ethereum holdings were second only to the Ethereum Foundation. As of Friday, the Ethereum Foundation held $540 million worth of Ethereum, Arkham Intelligence data showed.