TLDR
- Ethereum co-founder Joseph Lubin has indicated support for tokenizing SharpLink Gaming’s SBET stock.
- The company’s stock fell by nearly 80% following a misunderstood SEC filing related to share resale.
- Lubin responded to community concerns about fake SBET tokens by suggesting a possible on-chain version.
- Tokenizing SBET could offer investors lower fees, 24/7 trading, and protection against malicious actors.
- SharpLink recently became the largest public Ethereum holder with a major ETH purchase.
SharpLink stock dropped over 70% in a single day, triggering speculation and renewed interest in its blockchain potential. Joseph Lubin, Ethereum co-founder and board chairman of SharpLink, has hinted at the possibility of tokenizing the company’s SBET stock. The move could redefine access to SharpLink shares by bringing them on-chain and eliminating ticker manipulation.
Tokenization Plans Spark Industry Attention
SharpLink could be the next major firm to join the wave of stock tokenization following Lubin’s comments on social media. His response to growing concerns over fake SBET tokens indicates early-stage support for an official on-chain version. This would allow real-time trading, lower fees, and help eliminate misuse of the SharpLink ticker.
And so much more. https://t.co/MB6aTZx8UK
— Joseph Lubin (@ethereumJoseph) June 14, 2025
Although the tokenization process requires regulatory caution, Lubin’s dual role gives him the platform and tools to drive it forward. He holds positions at both Ethereum and SharpLink, enabling him to bridge blockchain tech with public market assets. With increased DeFi adoption, SharpLink may find tokenization a path to long-term resilience.
SharpLink ETH Treasury Strategy Triggers Stock Pressure
SharpLink recently acquired 176,271 ETH, becoming the largest public Ethereum holder, drawing comparisons to Strategy’s Bitcoin approach. The company also filed an S-3 for potential share resale, which many investors misread as an active offering. Lubin clarified that the filing was procedural and tied to planned Ethereum treasury actions.
Despite the market reaction, SharpLink intends to use a $1 billion shelf offering to grow its Ethereum reserves. Previous capital raises linked to ETH purchases led to investor excitement and temporary stock rallies. However, the latest filing coincided with a sharp 79.69% stock drop, closing at $9.21.
SharpLink’s leadership believes the Ethereum-focused treasury strategy will strengthen long-term fundamentals and offer unique liquidity advantages. Tokenizing SBET could also add continuous trading hours and create better investor access. While risky, this pivot places SharpLink at the intersection of fintech and blockchain innovation.
On-Chain SBET Could Improve Security and Efficiency
As fake SBET tokens continue to appear, official tokenization could help mitigate abuse and increase trust in the SharpLink ecosystem. An on-chain SBET stock could offer improved transparency, stronger ownership validation, and compatibility with DeFi tools. It would also reflect SharpLink’s growing integration with Ethereum’s infrastructure.
Though details remain sparse, Lubin’s public agreement to explore tokenization has energized the blockchain and crypto investing community. SharpLink’s unique position, both as an Ethereum-heavy public company and fintech player, makes it a likely candidate for stock tokenization. If successful, it could serve as a model for similar tech-forward public companies.
