Nasdaq-listed SharpLink Gaming on Thursday announced that it has partnered with fintech firm Superstate to issue tokenized shares of its SEC-registered common stock ($SBET) directly on the Ethereum blockchain. The move marks SharpLink as the first public company to natively tokenize its equity on Ethereum using Superstate’s Opening Bell issuance platform.
Under the arrangement, Superstate will act as SharpLink’s digital transfer agent, managing the on-chain equity infrastructure. The tokenized $SBET shares will remain fully compliant with U.S. securities law and legally equivalent to book-entry shares. But now with the tokenized $SBET, holders could custody them in self-custodied wallets and integrate them into DeFi systems.
Bringing tokenized equity on Ethereum
SharpLink and Superstate also expressed intent to explore trading of tokenized equities on automated market makers (AMMs) and other decentralized protocols, after satisfying required regulatory guardrails. They said that by doing so, it would demonstrate how compliant tokenized securities can deliver broader utility, enhance liquidity, and modernize capital flows for a new era of investor and issuer engagement.
Commenting on the new partnership with Superstate, Joseph Lubin, SharpLink’s Chairman of the Board, Founder and CEO of Consensys and Co-Founder of Ethereum, said, “We’re proud to have been the first public company to become a Digital Asset Treasury company on Ethereum, onboarding traditional finance to Ethereum. And now we are excited to raise the floodgates further by onboarding TradFi to composable DeFi on Ethereum.”
Strong ETH treasury backing
“As one of the largest corporate holders of ETH, this major step forward reinforces SharpLink’s conviction that Ethereum is the foundation upon which the next generation of financial infrastructure will be built,” Lubin added.
SharpLink is already known for its aggressive Ethereum accumulations since early 2025. It pivoted toward becoming a corporate ETH treasury, holding over 838,000 ETH and generating 3,815 ETH in native and liquid staking rewards as of late September. Tokenization of its stock seems to be a natural extension of its mission to bridge TradFi and DeFi.