SharpLink Drops Over 5% in Pre-Market After Announcing Tokenized Stock SBET

TradingKey – SharpLink Gaming unveils plans to tokenize its stock, but the market reacts tepidly, sending shares lower.

On Thursday, September 25, SharpLink Gaming (ticker: SBET), an Ethereum treasury firm, saw its stock plunge 5.12% in U.S. pre-market trading, currently priced at $16.68. The drop coincided with ETH falling below the $4,000 mark.

SharpLink Gaming Stock Chart – Source: Google.

During the Asian morning session, Ethereum (ETH) tumbled over 4%, briefly dipping below $4,000 and trading at $4,001. As of press time, SharpLink holds over 800,000 ETH, making it the second-largest institutional holder after Bitmine Immersive Technologies.

Just moments ago, SharpLink Gaming announced the launch of its tokenized equity offering. In theory, this move could help integrate its stock into the crypto ecosystem and expand its investor base. However, market response has been lukewarm so far.