SharpLink to Tokenize Nasdaq Equity SBET on Ethereum

• SharpLink Gaming announces plans to tokenize SBET stock on Ethereum.
• Initiative emphasizes compliance with SEC’s modernization framework for digital assets.

SharpLink Gaming, one of the leading public holders of Ethereum (ETH), plans to tokenize its Nasdaq-listed common stock (SBET) on the Ethereum blockchain, according to reports on September 25, 2025. The effort is being launched in partnership with Superstate, utilizing their Open Bell tokenization platform, as part of SharpLink’s broader blockchain-focused strategy aimed at modernizing equity markets.

In a regulatory filing submitted to the U.S. Securities and Exchange Commission (SEC), SharpLink detailed key aspects of its plan, including enabling trading of tokenized shares through decentralized platforms like automated market makers (AMMs) and other decentralized finance (DeFi) protocols. This move seeks to maintain full compliance with U.S. securities regulations while offering investors new pathways for liquidity and access.

The initiative aligns closely with the SEC’s "Project Crypto," which aims to modernize securities regulations and incorporate blockchain innovations within traditional financial systems. SharpLink’s tokenization project could serve as a model for bridging traditional equity markets with decentralized blockchain systems, highlighting the potential for greater investor connectivity and expanded financial opportunities.

A key part of this initiative is SharpLink’s collaboration with Superstate, an established provider of on-chain financial solutions. Superstate will act as the digital transfer agent for SharpLink’s tokenized shares, ensuring proper on-chain representation and upholding regulatory integrity. The partnership highlights the importance of blending technological innovation with stringent compliance measures to foster adoption of tokenized equity.

SharpLink’s launch of this project builds on a strategic transition announced in June 2025, where the company focused on growing its corporate treasury of Ethereum, placing itself among the largest publicly listed holders of the cryptocurrency. The decision to tokenize SBET marks the next step in SharpLink’s blockchain-centric roadmap, integrating digital assets more deeply into its corporate operations and vision for future growth.

This trend in tokenized equity markets is gaining traction, as other firms, including Forward Industries, have announced similar moves leveraging Superstate’s technology to modernize their share issuance processes. It underscores a larger shift in publicly traded companies experimenting with blockchain solutions to complement traditional financial infrastructure.

As of September 25, 2025, at 16:08 UTC, Ethereum (ETH) is trading at $4,003.11, reflecting a 3.9% decrease in its 24-hour trading volume, based on market reports. Solana (SOL), another leading blockchain platform for tokenization, is priced at $201.32, with a 5.7% decline over the same timeframe, according to the latest data.