SharpLink Gaming (NASDAQ: SBET) stock surged 14.70% in pre-market trading on Wednesday, continuing its impressive upward trajectory that has seen gains of over 150% in the past month. This latest jump comes as the company solidifies its position as the world's largest corporate holder of Ethereum (ETH), a major cryptocurrency.

According to recent disclosures, SharpLink Gaming now holds an impressive 285,894 ETH, valued at approximately $8.7 billion. The company aggressively expanded its Ethereum holdings between July 7 and July 13, acquiring 74,656 ETH tokens at a weighted average price of $2,852 per token. This strategic move has positioned SharpLink Gaming ahead of other corporate accumulators in the digital asset space, even surpassing the Ethereum Foundation's holdings.

The surge in SharpLink's stock price aligns with a broader rally in crypto-related stocks, fueled by optimism surrounding the potential passage of the GENIUS Act. U.S. President Donald Trump announced that key House members have pledged to back the GENIUS Act vote on Wednesday, which aims to establish national innovation for U.S. stablecoins. This legislative development has sparked increased interest in cryptocurrency-related companies, with several seeing significant pre-market gains.