SharpLink Gaming, Inc. (Nasdaq: SBET) plans to tokenize its SEC-registered common stock directly on the Ethereum blockchain, the firm announced on Thursday.
NEW: SharpLink is partnering with Superstate to issue tokenized $SBET shares directly on the Ethereum blockchain.
SharpLink will become the first public company to do so.
Together, we’ll work to advance how tokenized public equities can one day trade on Automated Market Makers… pic.twitter.com/gZS7w68VKf— SharpLink (SBET) (@SharpLinkGaming) September 25, 2025
The move will be executed in partnership with Superstate, a financial technology firm specializing in digital transfer agency services. SharpLink said it will use Superstate’s Opening Bell platform.
SharpLink said it aims to showcase how public companies can use blockchain to create shareholder value, improve efficiency, and modernize capital markets.
Shares tokenized on Opening Bell remain legally equivalent to traditional book-entry equity, while gaining functionality such as self-custody in digital wallets and integration with decentralized financial products.
Driving the Future of Tokenized Securities
The partnership is designed not only to issue tokenized SBET shares but also to advance research into how regulated equities could eventually trade on Automated Market Makers (AMMs) and other decentralized finance (DeFi) protocols, said SharpLink Gaming in a press release.
SharpLink explains this vision aligns with the U.S. Securities and Exchange Commission’s Project Crypto agenda, which is exploring frameworks for digital assets and blockchain-driven market infrastructure.
If realized, trading compliant, tokenized securities on AMMs could unlock broader liquidity and utility for investors while streamlining capital flows between issuers and markets. SharpLink and Superstate hope this collaboration will demonstrate how tokenization can bring transparency and efficiency to U.S. equity markets.
Alignment with Ethereum’s Ecosystem
“Tokenizing SharpLink’s equity directly on Ethereum is far more than a technological achievement – it is a statement about where we believe the future of the global capital markets is headed,” said Joseph Chalom, Co-CEO of SharpLink.
“We’re proud to have been the first public company to become a Digital Asset Treasury company on Ethereum. Now we are raising the floodgates further by onboarding traditional finance to composable DeFi,” adds Joseph Lubin, Chairman of SharpLink, CEO of Consensys, and Co-Founder of Ethereum.
SharpLink’s ETH Treasury Strategy
The tokenization plan builds on SharpLink’s aggressive Ethereum treasury strategy, launched in June 2025. The company has since accumulated more than 838,000 ETH and generated 3,815 ETH in staking rewards by late September, cementing its position as one of the world’s largest corporate ETH holders.
Robert Leshner, CEO of Superstate, called the initiative “a milestone worthy of such an important Ethereum-aligned company.” He adds: “We’re very pleased to be partnering with SharpLink as they build the ecosystem for tokenized equity on Ethereum and beyond.”
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