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SharpLink Gaming, one of the globe’s largest public owners of Ether, revealed intentions to tokenize its ordinary stock on the Ethereum blockchain.
SharpLink has collaborated with the financial technology company Superstate to tokenize its Nasdaq-listed stock SBET via Superstate’s Open Bell tokenization platform, the organization stated on Thursday.
“Tokenizing SharpLink’s equity directly on Ethereum signifies far more than a technical accomplishment — it is a declaration about the direction we think global capital markets are heading,” remarked SharpLink co-CEO Joseph Chalom.
By teaming up with Superstate, SharpLink becomes part of the increasing number of firms aiming to tokenize their common stock through the Open Bell platform, including Forward Industries, which declared its intention to tokenize shares on Solana on Monday.
Second-largest ETH possessor
Founded in 2019, SharpLink functions as a performance-oriented marketing firm catering to the iGaming and sports betting industries.
The company shifted toward establishing a corporate Ether (ETH) reserve in June 2025, attaining the distinction of one of the largest public ETH owners globally.
Shortly after announcing an ETH treasury in May, SharpLink experienced a surge in its shares by more than 100%, with the stock price rising from approximately $40 on May 27 to nearly $90 by May 30.
The surge was brief, as the shares rapidly fell to around $10 by mid-June and have not surpassed $40 since, according to TradingView.
Trading SBET on decentralized finance platforms
According to a statement Sharplink submitted to the US Securities Exchange Commission, the organization also intends to collaborate with Superstate to enhance how tokenized public equities may ultimately trade on automated market makers (AMMs).
An AMM is a kind of decentralized exchange (DEX) protocol that utilizes smart contracts and liquidity pools to facilitate the automatic exchange of digital assets without depending on conventional buyers and sellers.
Related: Ether supply on exchanges reaches 9-year low amidst ‘Wall Street glow up’
In addition to AMMs, Sharplink aims to facilitate such trading on other decentralized finance (DeFi) protocols in a fully compliant way, it stated.
“This effort correlates with the SEC’s wider Project Crypto innovation initiative aimed at modernizing US securities regulation to more effectively accommodate digital assets, blockchain, and on-chain markets,” Sharplink mentioned.
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