Sharplink
Sharplink (NASDAQ: SBET) operates an institutional-grade Ethereum treasury platform that holds, stakes, and actively manages ETH on behalf of public-market shareholders, while retaining a legacy online affiliate marketing business for regulated gaming operators.
- Company typePublic
- Founded2019
- HeadquartersMiami, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Sharplink does
Sharplink (NASDAQ: SBET) operates an institutional-grade Ethereum treasury platform that holds, stakes, and actively manages ETH on behalf of public-market shareholders. The company deploys capital across native Ethereum proof-of-stake validators, EigenLayer restaking, EtherFi liquid staking, and a $200 million Linea Layer 2 deployment, with 100% of staking rewards passed through to shareholders and an ETH-per-share maximization strategy executed through equity issuance and DeFi participation. As of mid-2026, Sharplink held 870,000–876,000 ETH (~$1.3–1.4B), making it the second-largest corporate ETH holder globally behind Bitmine; together the two entities control roughly 7% of circulating ETH supply.
The platform is led by Joseph Chalom (CEO, former BlackRock digital asset chief behind IBIT and ETHA) and Joseph Lubin (Chairman, Ethereum co-founder and Consensys founder), with additional executives drawn from FalconX, J.P. Morgan, Bain Capital Crypto, and Bridgewater. Sharplink has constructed an institutional distribution stack covering Nasdaq listing, coverage from eight sell-side research firms, dedicated IR counsel, the Galaxy Sharplink Onchain Yield Fund co-launched with Galaxy Digital, and ecosystem vehicles including Ethlabs, Ethereum Institutional, and EthSystems. The company retains a legacy FourCubed online affiliate marketing business connecting 12,000+ affiliates and 1.8M referred players to regulated gaming operators, which provides a non-crypto commercial revenue stream.
Sharplink firmographics
Firmographics- Name
- Sharplink
- Legal name
- Sharplink Inc.
- Website
- https://sharplink.com
- Company type
- Public
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Sharplink (NASDAQ: SBET) operates an institutional-grade Ethereum treasury platform that holds, stakes, and actively manages ETH on behalf of public-market shareholders, while retaining a legacy online affiliate marketing business for regulated gaming operators.
- Ownership category
- akta.pro rank
Sharplink industry classification
Industry- Product category
- Digital Asset Treasury Services
- NAICS
- Other Financial Vehicles (52599), Funds, Trusts, and Other Financial Vehicles (525), Miscellaneous Intermediation (52391)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Tokenized Real-World Assets & On-Chain Treasuries (tokenized T-bills, money markets, cash management) (FSAPAEAJ)
- akta.pro secondary industry
- Institutional DeFi & On-Chain Liquidity Infrastructure (Permissioned DeFi, Lending) (FSAGAMAG)
Keywords
Where Sharplink is headquartered
LocationHeadquarters
- HQ city
- Miami
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Sharplink business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Ethereum Staking Rewards: Sharplink generates yield by staking its ETH treasury holdings through proof-of-stake validators, EigenLayer restaking, EtherFi liquid staking, and Layer 2 deployment on Linea. 100% of staking rewards accrue to shareholders. The company has staked nearly all of its ETH holdings since inception.
- iGaming Affiliate Marketing: Sharplink operates an online affiliate marketing business that connects regulated gaming operators with potential customers, earning commissions for qualifying traffic and player referrals. The business manages a network of over 12,000 affiliates and 1.8 million referred players, generating recurring commission revenue.
- Capital Markets Execution: Sharplink raises equity capital through public markets (private placements, at-the-market offerings) and uses proceeds to acquire additional ETH on the spot market in an accretive fashion for shareholders, growing ETH per share over time.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels7 records
Sharplink product offering
Product offeringCore offering
Sharplink operates an institutional-grade Ethereum treasury platform that holds, stakes, and manages ETH on behalf of shareholders, passing 100% of staking yield through while pursuing an ETH-per-share maximization strategy via DeFi participation, Layer 2 deployment, and accretive capital markets execution. In addition, the company operates an online affiliate marketing business (via FourCubed) that connects regulated gaming operators with player referrals.
Product overview
Sharplink operates as a Nasdaq-listed Ethereum treasury company (SBET) offering a single unified platform for institutional-grade Ethereum exposure with 100% staking yield accrual to shareholders. The core platform provides custody, execution, risk controls, and capital deployment through partnerships with Consensys, Linea, EigenLayer, EtherFi, and Anchorage Digital Bank. The product portfolio includes the main Ethereum Treasury Platform, the Galaxy Sharplink Onchain Yield Fund (launched May 2026 for enhanced yield generation), an ETH Dashboard for real-time tracking, and an online affiliate marketing business. Through its backing of EthSystems and Ethereum Institutional, Sharplink participates in Ethereum's institutional infrastructure development including privacy solutions and enterprise adoption services.
Differentiator
Problem solved
Functional benefit
Brands
- The Galaxy Sharplink Onchain Yield Fund: An onchain yield fund launched in partnership with Galaxy
Products and services
- Sharplink Ethereum Treasury Platform Institutional-grade Ethereum treasury platform that holds, stakes, and manages ETH on behalf of shareholders, providing 100% staking yield accrual, active treasury management, and real-time transparency into ETH deployment and reward generation.
- Galaxy Sharplink Onchain Yield Fund An onchain yield fund initiative co-branded with Galaxy Digital, designed to generate enhanced yield through Ethereum ecosystem incentives and DeFi participation for institutional capital allocators.
- Online Affiliate Marketing Network (FourCubed) An online affiliate marketing business connecting regulated gaming operators with potential customers, managing a network of over 12,000 affiliates and 1.8 million referred players worldwide, generating commission revenue.
- ETH Dashboard Live dashboard providing real-time visibility into Sharplink's ETH holdings, staking rewards, and treasury performance metrics for shareholders and prospective investors.
Quantifiable outcome
- Sharplink stakes 100% of its ETH (vs. ETF issuers limited to ~50% by SEC daily liquidity requirements), maximizing yield generation per ETH held
- +3 more outcomes
Companies that use Sharplink
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles2 records
Sharplink technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature4 records
Sharplink partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered flagship and core.
- Galaxy DigitalflagshipSharplink and Galaxy Digital co-launched The Galaxy Sharplink Onchain Yield Fund on May 11, 2026, a structured institutional fund vehicle designed to provide eligible investors access to ETH onchain yield strategies. Galaxy provides fund administration, institutional distribution, and brand credibility in the digital asset management space.
- ConsensyscoreConsensys, the leading Ethereum software company behind MetaMask, Linea, and foundational Ethereum tooling, is Sharplink's primary strategic partner. Joe Lubin, Ethereum co-founder and Consensys CEO, serves as Sharplink's Chairman of the Board. Consensys led Sharplink's $425 million private placement and provides technology access, ecosystem integration, and institutional credibility. Sharplink has partnered with Consensys and Linea to deploy $200 million of ETH onto the Linea Layer 2 platform.
- Linea (Consensys)coreSharplink deployed $200 million of its ETH onto the Linea Layer 2 platform in collaboration with Consensys, EigenLayer, EtherFi, and Anchorage Digital Bank. Linea provides scalable, confidential infrastructure for ETH treasury deployment and yield generation.
- EigenLayercoreSharplink deploys ETH through EigenLayer's restaking protocol as part of its $200 million Linea deployment strategy, enabling enhanced yield generation through restaked ETH secured across multiple validation roles.
- EtherFicoreSharplink participates in EtherFi's liquid staking infrastructure as part of its multi-protocol ETH yield strategy, enabling liquid staking derivative exposure alongside traditional staking rewards.
- Anchorage Digital BankcoreAnchorage Digital Bank provides institutional-grade ETH custody and staking infrastructure for Sharplink's treasury operations as part of the $200 million Linea deployment, ensuring bank-grade security, regulatory compliance, and secure validation.
Scale indicators8 records
Recent moves7 records
Expansion highlights5 records
Sharplink competitors and assessment
Company assessmentOthers
- Anchorage Digital Bank: Institutional-grade digital asset custodian and staking infrastructure provider; serves as Sharplink's custodian for the $200M Linea deployment and ETH treasury operations. A partner rather than direct competitor, but a comparable institutional infrastructure layer in the Ethereum ecosystem.
Broad incumbents
- Coinbase: The largest US-listed crypto exchange and institutional custodian, providing custody and staking infrastructure for much of the institutional crypto ecosystem. Coinbase's staking-as-a-service business is the implicit competitor Sharplink bypasses by passing 100% of yield directly to shareholders.
- BlackRock (iShares Ethereum Trust - ETHA): The dominant institutional Ethereum exposure product via the iShares Ethereum Trust (ETHA). Sharplink positions itself as superior to ETHA due to 100% staking versus ETHA's ~50% regulatory constraint. Joseph Chalom led ETHA's launch at BlackRock before joining Sharplink.
- Grayscale Ethereum Trust (ETHE): The largest and longest-running institutional Ethereum exposure product. ETHE is a closed-end trust that historically traded at premiums to NAV and is converting to an ETF; competes directly with Sharplink for institutional ETH allocation but cannot offer staking yield at the same level.
- Galaxy Digital: Galaxy is Sharplink's partner for the co-branded Galaxy Sharplink Onchain Yield Fund (launched May 2026) and is itself a diversified institutional digital asset manager and trading firm. Galaxy provides fund administration, institutional distribution, and digital asset trading infrastructure for the joint vehicle.
Emerging players
- Bitwise Ethereum ETF (ETHW): One of the spot Ethereum ETFs competing for institutional ETH allocation. Like other ETFs, ETHW faces SEC-driven staking limitations (capped at ~50% of holdings) that Sharplink sidesteps via direct 100% staking, creating a structural yield gap Sharplink leverages in marketing.
- Lido Finance: The largest liquid staking protocol for ETH, allowing users to stake ETH and receive stETH. Sharplink competes with Lido's institutional staking offering but differentiates via direct staking, restaking integration (EigenLayer), and L2 deployment strategies unavailable to passive stETH holders.
Direct peers
- MARA Holdings (formerly Marathon Digital): Public company that pioneered the corporate digital asset treasury model alongside MicroStrategy, originally Bitcoin-focused. MARA represents the publicly-traded crypto treasury archetype that Sharplink adapts for ETH, making it a useful comparable for capital structure and treasury management execution.
- MicroStrategy (now Strategy): The original publicly traded corporate crypto treasury vehicle (Bitcoin-focused). MicroStrategy pioneered the playbook Sharplink applies to ETH—using capital markets execution and convertible debt to accumulate crypto assets, with corporate treasury metrics (NAV multiple, BTC per share) driving equity valuation.
- Bitmine Immersion Technologies: The world's largest corporate ETH holder (~4.8% of total ETH supply) and Sharplink's closest peer. Bitmine operates an identical institutional Ethereum treasury strategy, has co-anchored multiple Ethereum infrastructure initiatives with Sharplink, and together the two control approximately 7% of circulating ETH supply.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
Sharplink social profiles
Digital presenceSharplink financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sharplink leadership team
Management profileNumber of profiles
Profiles14 records
Sharplink subsidiaries and ownership
Company hierarchySubsidiaries1 record
Sharplink funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sharplink M&A and investment
M&A and investmentM&A
Investments4 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Sharplink
What does Sharplink do?
Sharplink operates an institutional-grade Ethereum treasury platform that holds, stakes, and manages ETH on behalf of shareholders, passing 100% of staking yield through while pursuing an ETH-per-share maximization strategy via DeFi participation, Layer 2 deployment, and accretive capital markets execution. In addition, the company operates an online affiliate marketing business (via FourCubed) that connects regulated gaming operators with player referrals.
Is Sharplink a public or private company?
Sharplink is a public company. It is classified as public and is currently operating.
When was Sharplink founded?
Sharplink was founded in 2019. It employs 11 to 50 people.
Where is Sharplink based?
Sharplink is headquartered in Miami, United States, in the North America region.
How does Sharplink make money?
Three revenue lines are on record. Ethereum Staking Rewards are the primary driver. The others are iGaming Affiliate Marketing and capital Markets Execution.
Who are Sharplink's main competitors?
Anchorage Digital Bank is listed as an others. Broad incumbents are Coinbase, BlackRock (iShares Ethereum Trust - ETHA), Grayscale Ethereum Trust (ETHE) and Galaxy Digital. Emerging players are Bitwise Ethereum ETF (ETHW) and Lido Finance. Direct peers are MARA Holdings (formerly Marathon Digital), MicroStrategy (now Strategy) and Bitmine Immersion Technologies.
Does Sharplink have an API?
No public API is recorded for Sharplink.
What industry is Sharplink in?
Sharplink's product category is Digital Asset Treasury Services. Its primary akta.pro industry code is FSAPAEAJ, Tokenized Real-World Assets & On-Chain Treasuries (tokenized T-bills, money markets, cash management), with a secondary code of FSAGAMAG, Institutional DeFi & On-Chain Liquidity Infrastructure (Permissioned DeFi, Lending). Its NAICS code is 52599 and its SIC code is 6200.