The tokenization of shares takes a new leap. SharpLink Gaming, listed on the Nasdaq, has announced that it will issue its ordinary shares SBET directly on the Ethereum blockchain using the Opening Bell solution developed by Superstate. A bold move that confirms the rise of on-chain finance in traditional markets.
In Marking a Historic Milestone for a Listed Company
SharpLink becomes the first public company to native plan its stock on Ethereum. To achieve this, it has appointed Superstate as its digital transfer agent. The goal is to make its shares accessible in the form of tokens compliant with current regulations. The ambition is clear: to demonstrate that blockchain can generate value for shareholders, streamline markets, and transform financial infrastructure.
Tokenization and DeFi, an Alliance in Preparation
SharpLink and Superstate aim to go beyond a simple issuance on-chain. The two companies are already working on solutions to allow tokenized shares to move in the DeFi, particularly via automated market makers (AMM). An approach aligned with the SEC’s Crypto Project, aimed at modernizing digital financial market regulations. “SharpLink will be the first public company to tokenize its shares on Ethereum with Opening Bell, a major milestone,” commented Robert Leshner, CEO of Superstate.
A Strategy Aligned with Ethereum
This shift is not coincidental. Since June, SharpLink has adopted a treasury strategy centered on Ethereum. As a result, they have accumulated over 830,000 ETH (about $3.3 billion) and generated 3,815 ETH in staking rewards, totaling nearly $15.3 million. The company is now the second-largest corporate holder of Ethereum, just behind Tom Lee’s BitMine. At the helm is Joseph Lubin, co-founder of Ethereum and CEO of ConsenSys, who stands by this strategic choice:
As one of the largest ETH holders, this step reinforces our belief that Ethereum will be the foundation of the next generation of financial infrastructure.
An Accelerating Underlying Trend
SharpLink is not alone in the race. Forward Industries (Solana) and Galaxy Digital have already used Opening Bell to tokenize securities, and players like Robinhood, Coinbase, and xStocks have also launched similar solutions. The tokenization of shares is moving from the experimentation stage to the reality of the market. Meanwhile, the SBET stock fell by 5% on Thursday afternoon, in line with the overall crypto market decline. A drop that contrasts with the magnitude of the announcement but confirms that investors are closely monitoring this still nascent transformation.
