SharpLink Nets 457 ETH Weekly Yield, Total Passes 4,200 ETH

TL;DR Breakdown

• SharpLink earned 457 ETH in weekly staking rewards, lifting its treasury total above 4,200 ETH.
• The firm plans to tokenize its stock directly on Ethereum via Superstate’s Opening Bell platform.
• Tokenized shares will carry full legal rights and could eventually trade on DEXs while staying under SEC oversight.

SharpLink Gaming bagged fresh 457 ETH in staking rewards last week. This lifts its running total to more than 4,200 ETH since the company rolled out an Ethereum-focused treasury program in June. However, the split shows 1,825 ETH from native staking and 2,447 ETH via liquid staking in the bag.

This comes in when the global crypto market saw a huge fluctuation in traders’ mood. The cumulative digital assets market cap dropped back to the $3.9 trillion mark from above highs of $4 trillion. Ethereum printed red indexes after holding up a good bullish run.

SharpLink to Tokenize Stock on Ethereum

SharpLink had mentioned that its treasury is now fully deployed and generating a predictable yield day after day. It added that no additional ETH purchases or buybacks were made during the week. At the same time, the company is moving into new territory. The Minnesota-based firm plans to tokenize its stock directly on Ethereum. It would be a first for a US-listed company.

It is working with Superstate as its digital transfer agent, with the shares to be issued through Superstate’s Opening Bell platform. This is designed to bring SEC-registered equity onto blockchain rails. The company said the tokenized shares will carry the same legal rights as regular stock but can be held in digital wallets and potentially plugged into on-chain protocols. 

Down the line, SharpLink and Superstate want to test whether those shares could trade on decentralized exchanges or automated market makers. It is a step that would push tokenized securities deeper into DeFi territory while staying inside US compliance rules.

ETH Struggles Despite ETF Inflows

The timing is notable as Interest in tokenized assets has been building steadily this year. Big efforts from Robinhood, Gemini, Ondo Finance, and Kraken are all drawing attention. Though not without criticism over shareholder protections and uneven regulation. SharpLink is betting that issuing directly on Ethereum, with US oversight baked in, gives its offering a clearer path forward.

Ethereum itself has had a choppy week. ETH briefly slid under $4,200 on Tuesday even after spot ETFs took in more than $500 million the previous day, their best showing in weeks. On-chain activity has slowed, weighing on sentiment, and traders are watching closely to see if ETH can revisit the $4,800 level hit in mid-September.

ETH price dropped by more than 6% over the past 30 days. The biggest altcoin is trading at an average price of $113,962 at the press time. Its 24-hour trading volume dipped by 2% to hover around $59 billion.