Sharplink, Inc.: insider trades · United States · SEC (Form 4)

About Sharplink, Inc.

Sharplink, Inc. (ticker: SBET) is a United States-listed company on the Nasdaq that has undergone a major strategic transformation from its origins in sports-betting and iGaming affiliate marketing. Founded in 2019 and headquartered in Miami, Florida, the company today presents itself primarily as a digital asset treasury platform centered on Ether (ETH), while retaining a smaller affiliate-marketing operation serving regulated gaming operators. For investors, this distinction matters: SBET is no longer a conventional gaming-tech story, but rather a public-market vehicle with direct exposure to institutional crypto adoption and ETH per-share accumulation. The company’s most consequential strategic shift came in June 2025, when it adopted ETH as its primary treasury reserve asset. Since then, Sharplink has described itself as one of the largest publicly traded corporate holders of Ether and a prominent advocate for Ethereum adoption. Its corporate communications indicate that the company raised substantial new capital to support this strategy and materially expand its balance sheet. In February 2026, it formally changed its corporate name from SharpLink Gaming, Inc. to Sharplink, Inc., aligning the brand with its revised capital-allocation thesis and digital-asset identity. From a competitive standpoint, Sharplink occupies a niche at the intersection of treasury management, capital markets, and digital assets. Its value creation model is less about traditional operating growth and more about increasing ETH concentration per share through issuance, financing flexibility, active treasury management, staking-related yield, and disciplined deployment of capital when conditions are attractive. That makes SBET structurally different from mainstream technology companies and closer to a digital-asset treasury compounder, albeit one with an operating legacy in affiliate marketing. On the product and service side, the company still operates an online performance-based affiliate marketing business connecting regulated sports-betting and online gaming operators with prospective customers. Historically, that business included conversion marketing, traffic acquisition, and affiliate services in the United States and Canada. However, the treasury strategy has become the dominant narrative and economic driver. Geographically, Sharplink’s operating footprint is primarily in the United States, with a broader but limited international reach in its legacy marketing activities. Recent company developments in 2026 have focused on the new Sharplink identity, the scale of its ETH holdings, institutional ownership, and the ongoing execution of its Ethereum-centric treasury strategy. For French-, Belgian-, and Swiss-based investors, SBET should be viewed as a hybrid Nasdaq-listed name: part micro-cap equities story, part highly speculative Ethereum proxy, with a residual affiliate-marketing business that is no longer the core investment case.