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SharpLink purchased an additional 10,000 ETH at an average price of $1,611 yesterday and was officially included in the Russell 2000 and 3000 indices; Bitmine's holdings increased to 5.67 million ETH. Chairman Tom Lee: We are in the early stages of a crypto spring

According to BBX data, the two largest publicly listed reserve companies for Ethereum issued a counter-cyclical buy signal yesterday, with the core dynamics as follows:SharpLink, Inc. (NASDAQ: $SBET) (one of the largest publicly listed reserve companies for Ethereum, founded by CEO Joe Lubin, formerly known as SharpLink Gaming, transitioning to Ethereum Treasury in May 2025) released an official press release on June 30: the company purchased an additional 10,000 ETH at an average price of $1,611 per coin, raising its total holdings to 886,725 ETH; during the same period, it repurchased 2,132,773 shares of common stock (average price $4.69), bringing the total repurchased since the buyback program started in August 2025 to 4,071,223 shares. This ETH purchase was funded by the company's previously completed $75 million targeted issuance (registered direct offering). CEO Joseph Chalom stated that this fundraising "provides capital support for proactive ETH treasury management strategies." The company's average purchase cost for 886,725 ETH is approximately $3,609 per coin, and with the current price around $1,611, the paper loss is about $1.77 billion; however, the company earned approximately 18,800 ETH in staking rewards in Q1 (equivalent to about $30 million per quarter at current prices), with revenue of $12.1 million during the same period (a 16-fold increase compared to $742,000 in the same period last year). The company has officially been included in the Russell 2000 and Russell 3000 indices, which will trigger passive buying from active and passive funds tracking these two indices, potentially broadening the institutional shareholder base and increasing access to capital markets.Bitmine Immersion Technologies, Inc. (NYSE: $BMNR), as of June 26, according to the latest data cited by CoinDesk, the company's ETH holdings have risen to approximately 5.67 million coins (an increase of about 280,000 coins compared to the 5.39 million disclosed in the SEC 8-K on May 26), with a net increase of about 52,203 coins in the previous week (equivalent to about $82 million); the company's chairman Tom Lee stated on June 26: "We are maintaining a steady accumulation pace throughout 2026, and we believe we are in the early stages of a Crypto Spring." At the current price of about $1,610, the market value of 5.67 million ETH is approximately $9.13 billion; during the same period, Bitmine jointly funded the Ethlabs nonprofit research organization with SharpLink and Ethereum co-founder Joe Lubin (founded by former Ethereum Foundation researchers, focusing on Ethereum infrastructure and institutional research), further strengthening the institutional narrative support for the ETH ecosystem through the endorsement of the three organizations.

Ripple plans to introduce an institutional-level lending protocol on XRPL, allowing tokenized assets to be used as collateral for financing

XRPLRipple is actively promoting the addition of a layer of lending infrastructure on the XRP Ledger (XRPL), enabling institutions to use on-chain tokenized assets as collateral for financing, while the loan terms are automatically executed by the protocol, with credit assessments and lending decisions still made by off-chain institutions.According to reports, the proposal is named the XRPL Lending Protocol (corresponding to the XLS-65 and XLS-66 standards), which is currently still in the technical draft stage and must be approved through validator voting before it can go live on the mainnet, but it is already available for developer testing on the test network.The design of the protocol splits the lending process into two parts: on-chain mechanisms responsible for fund pool management, interest calculation, repayment execution, and default handling; while borrower credit assessments and loan term settings remain with traditional financial institutions to meet compliance requirements in different jurisdictions.Ripple states that this mechanism is primarily aimed at institutional short-term liquidity needs, such as in cross-border payment scenarios, where temporary financing is obtained through stablecoins or collateralized assets before settlement, to enhance capital efficiency.Analysts believe that this solution attempts to introduce a "rule-based lending infrastructure" similar to traditional finance while maintaining the open network attributes of XRPL, but it still faces competition from established on-chain lending protocols like Aave, Compound, and Maple.
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