Sharplink, Inc. (SBET)

Sharplink, Inc.'s stock (SBET) has experienced considerable volatility and significant events in the past six months. As of October 2025, the stock showed a remarkable 449% return over the preceding six months, though it is characterized by high price volatility. In December 2025, shares fell by over 5%, and an announced $15 billion buyback plan initially failed to significantly boost stock prices. Apeiron Capital Ltd sold its entire stake of 1,354,400 shares in Q4 2025. The company's net asset value (NAV) premium has flipped into a deep discount. Despite these fluctuations, insider sentiment for SBET is positive.

The demand seasonality for Sharplink, Inc.'s products and services is now largely tied to the cryptocurrency market, particularly Ethereum, given that Ethereum staking activities generate approximately 95% of its revenue. Demand for Ethereum staking has been reaching new highs, with rising staking volume reducing circulating supply and declining unstaking demand. Staking returns on Ethereum can vary, with higher demand for blockspace potentially leading to increased returns.

Sharplink, Inc. has transformed from a sports betting affiliate marketing company to an Ethereum treasury platform. The company now focuses on providing investors with exposure to Ethereum and advocating for its role as digital capital. While it still offers affiliate marketing and sports gaming client services, approximately 95% of its revenue is generated from its Ethereum-focused treasury strategy, specifically through staking activities. The company officially changed its name from SharpLink Gaming, Inc. to Sharplink, Inc. in February 2026 to reflect this evolution.

Sharplink, Inc. is headquartered in Miami, Florida. Its sports betting affiliate marketing network, PAS.net, focuses on driving traffic and player acquisitions to U.S. regulated and global iGaming operator partners worldwide. The company has also launched state-specific affiliate marketing websites in 15 U.S. states to attract local sports betting and online casino gaming traffic.

Sharplink, Inc. has cultivated a reputation as a reliable and forward-thinking industry partner within the online sports betting and iGaming sectors. The company's strategic pivot to becoming an Ethereum treasury company, and the appointment of Ethereum co-founder Joseph Lubin as Chairman, have significantly shaped its brand identity and reputation in the cryptocurrency space. The company's dedication to innovation and user engagement, coupled with its adaptive technological approach, contributes to its standing in the evolving sports gaming ecosystem. The recent corporate name change to Sharplink, Inc. in February 2026 further solidifies its new identity.

Sharplink, Inc. has 147 institutional owners and shareholders holding a total of 63,706,823 shares. Major institutional owners include Fmr Llc, Susquehanna International Group, Llp, UBS Group AG, Citadel Advisors Llc, ParaFi Capital LP, Vanguard Group Inc, BlackRock, Inc., Alyeska Investment Group, L.P., Morgan Stanley, Anatole Investment Management Limited, and Geode Capital Management, LLC. Joseph Chalom serves as the Chief Executive Officer, and Joseph Lubin, co-founder of Ethereum and CEO of ConsenSys, is the Chairman and strategic advisor.