SharpLink Gaming, Inc (Ondo Tokenized Stock) 

SBETON Price

What is SharpLink Gaming (Ondo Tokenized Stock)?

SBETON is a tokenized stock issued by Ondo Global Markets (BVI) Limited that gives crypto traders on-chain exposure to SharpLink Gaming (NASDAQ: SBET) — one of the world's largest corporate Ether holders — without leaving a crypto venue. Each SBETON token tracks the total return of SBET common stock, with dividends reinvested after applicable withholding taxes. SBETON transfers peer-to-peer around the clock, unlike the underlying Nasdaq listing. DropsTab classifies SBETON under Tokenized Stock.

Which company does SBETON track?

SBETON tracks SharpLink Gaming, Inc — renamed Sharplink, Inc in early 2026 — a company founded in 2019 and headquartered in Miami, Florida. SharpLink pivoted to an actively managed ETH treasury strategy on June 2, 2025. Joseph Lubin, Consensys founder and Ethereum co-founder, serves as chairman. Joseph Chalom serves as CEO. The company publishes its ETH holdings on a weekly dashboard at sharplink.com.

How much Ethereum does SharpLink Gaming own?

SharpLink held 872,984 ETH as of May 4, 2026 — one of the largest corporate Ether treasuries. Staking generated 18,800 ETH in rewards since June 2025. Crypto assets reached roughly $1.7 billion on a U.S. GAAP basis in Q1 2026. Holdings are updated weekly on the company's public ETH dashboard.

Who funded SharpLink's ETH treasury strategy?

SharpLink raised a $425 million private placement at $6.15 per share in June 2025, backed by Galaxy Digital, to fund the ETH treasury pivot. On May 9, 2026, SharpLink signed a non-binding memorandum of understanding with Galaxy Digital for an approximately $125 million Galaxy Sharplink Onchain Yield Fund. SBETON itself raised no token funding — no ICO, IDO, or VC token rounds exist.

What backs the SBETON token's value?

Ondo states that SBETON tokens are fully backed by the corresponding publicly traded SBET securities and applicable cash. Custody runs through U.S.-registered custodial broker-dealers. Backing is verified independently every day. A security agent holds a first-priority security interest in the collateral. A bankruptcy-remote legal structure separates the collateral from the issuer's own balance sheet.

How does SBETON's mint and redeem mechanism work?

SBETON operates as a mint/burn wrapper. Supply expands when eligible participants mint tokens near underlying value and contracts when participants redeem. This arbitrage mechanism is designed to keep SBETON trading close to the underlying SBET price. Mint and redeem generally operates 24 hours a day, five days a week, subject to halts for corporate actions, volatility, or risk controls.

Does SBETON have a fixed maximum supply?

SBETON has no fixed maximum supply — supply tracks demand for exposure to the underlying equity, not a hard cap. Per DropsTab data, total supply stood at approximately 58,072 SBETON as of August 2026. No vesting schedule or unlock calendar exists, because a tokenized-equity wrapper carries no team, investor, or ecosystem allocations.

Where can SBETON be traded?

SBETON trades against USDT on centralized spot exchanges — MEXC and Gate carry verified SBETON/USDT pairs, per DropsTab data, with no decentralized or derivative venues tracked. The token is also natively buyable on Ondo's own platform, which operates around the clock. Liquidity is thin: low daily volume and wide spreads outside Nasdaq hours mean premiums or discounts to the underlying SBET quote can persist.

Is SBETON the same as owning SharpLink Gaming stock?

No — SBETON confers economic exposure only. Holders receive no voting rights and no general right to hold or receive the underlying security. Tokens are not stocks, ETFs, or ADRs. Ondo's tokenized stocks are not available to U.S. persons and carry additional jurisdictional restrictions. Holders also bear Ondo issuer risk and blockchain risk that direct SBET shareholders do not.