Joseph Chalom, former head of digital assets strategy at BlackRock, has joined SharpLink Gaming as co-CEO. Chalom played a significant role in the launch of BlackRock's Bitcoin and Ethereum ETFs and led the company's strategy on digital assets. This transition marks a new chapter for him after 20 years at BlackRock. SharpLink, which describes itself as an Ethereum treasury company, aims to leverage Ethereum as a productive asset through various strategies like staking. The firm holds over 360,000 ETH valued above $1.3 billion and recently expanded its treasury by acquiring nearly 80,000 ETH in a week. SharpLink's current CEO, Rob Phythian, will transition to the role of president. In addition to Chalom's appointment, SharpLink plans to raise up to $6 billion via a stock sale to enhance its ETH purchases. As BlackRock's iShares Ethereum Trust recently exceeded $10 billion in assets, indicating a strong institutional interest in Ethereum, SharpLink is positioning itself to bridge institutional capital with Ethereum-native yield. Meanwhile, shares of SBET have dropped over 6% following the announcement.

Source đź”—