SharpLink Gaming is moving deeper into blockchain finance. The company announced it will tokenize its Nasdaq-listed SBET stock on Ethereum through a new partnership with fintech firm Superstate.

SharpLink Expands Tokenization Strategy with Ethereum

SharpLink confirmed Thursday that its stock will be tokenized via Superstate’s Open Bell platform. This makes SharpLink one of the first Nasdaq-listed firms to bring its equity directly on-chain. Co-CEO Joseph Chalom said the move shows more than technical progress. It signals SharpLink’s belief that global capital markets will increasingly operate on blockchain rails.

The deal also puts SharpLink alongside other public firms adopting tokenization. Earlier this week, Forward Industries revealed plans to tokenize its shares on Solana. By choosing Ethereum, SharpLink reinforces the network’s role as a preferred chain for financial-grade assets. The company said tokenization is not only about accessibility but also about building new liquidity models for traditional stocks.

Founded in 2019, SharpLink serves the iGaming and sports betting sectors. In 2025, it shifted strategy by building a corporate Ether reserve. That pivot made it the world’s second-largest public holder of ETH. Its stock briefly surged from $40 to nearly $90 after the move, though it later retraced to around $10. Today, the firm continues to lean on blockchain adoption to strengthen its market presence.

Bringing SBET to DeFi Trading Platforms

SharpLink also detailed plans to explore how tokenized SBET shares could trade across decentralized finance protocols. It will work with Superstate to enable compliant trading on automated market makers (AMMs). These smart contract systems allow assets to swap through liquidity pools without traditional buyers and sellers.

Beyond AMMs, SharpLink wants to test trading across broader DeFi platforms while staying within U.S. regulatory frameworks. The firm said this push fits into the SEC’s Project Crypto agenda, which seeks to modernize securities rules for blockchain-based markets. This is aimed at increasing access, enhancing transparency, and linking Wall Street to on-chain liquidity.

SharpLink is aligning itself in the nexus of iGaming, crypto treasury management, and blockchain finance by investing in tokenized equities. By using Ethereum as a core, the company is placing a wager that the concept of tokenization will transform the way traders and investors perceive and trade public securities.