Injective Makes Ethereum Treasury Tradable With Launch of SBET

Injective introduced SBET, the first fully onchain digital asset treasury (DAT). SBET tokenizes SharpLink Gaming’s $1 billion Ethereum (ETH) treasury, transforming it into a tradable, yield-generating asset on the blockchain. This development marks a new approach to corporate treasury management in the crypto space.

Digital asset treasuries represent onchain reserves of cryptocurrencies owned by corporations or institutions. These tokens preserve full economic exposure to their underlying assets while enabling blockchain-native benefits like transparency, composability, and programmability.

Unlike traditional corporate treasuries that typically remain idle, SBET allows the treasury to be traded 24/7, staked for yield, used as collateral in DeFi protocols, and integrated into derivatives and structured financial products. Built on Injective’s iAssets framework, SBET is designed for native blockchain programmability and liquidity, offering continuous access and transparency.

What Is SBET and How Does It Work?

SBET is a digital token representing ownership of a corporate treasury’s digital assets—in this case, SharpLink Gaming’s Ethereum holdings. The token is backed 1:1 by actual ETH assets that are staked to generate yield, combining exposure to Ethereum price movements with interest earnings.

The iAssets framework underpins SBET’s onchain utility. This technology provides:

• Native programmability: SBET can interact with smart contracts and DeFi protocols from day one.
• Governance hooks: Token holders may have influence over treasury management decisions.
• Integrated liquidity: SBET supports real-time trading and market access.
• Cross-protocol composability: The token can be used as collateral or embedded in various DeFi strategies.

These features enable SBET holders to engage actively with the treasury asset, rather than passively holding a static reserve.

What SBET Means for Market Participants

SBET provides:

• Institutional investors with a transparent, liquid exposure to a managed ETH treasury.
• Retail investors with new access points to digital asset treasuries.
• DeFi users with collateral and yield options built into a trusted treasury token.
• Treasury managers with programmable tools to maximize capital efficiency

SharpLink’s Aggressive ETH Treasury Strategy

SharpLink Gaming, a corporate entity managing the underlying treasury, has acquired over 176,000 ETH worth approximately $463 million in the past month. This brings their total Ethereum holdings to over $1 billion, all of which is staked to earn yield.

The initial announcement of SharpLink’s treasury strategy, supported by industry figures like ConsenSys and Joe Lubin, caused SBET shares to surge more than 400%. Market optimism around Ethereum prices in mid-July further pushed SBET upwards by over 29%.

Injective’s Vision for Onchain Treasuries

Injective aims to shift corporate treasury assets from static balance sheets to dynamic, programmable financial instruments. This vision builds on their experience launching onchain tokenized equities, including Nvidia stock with features such as 24/7 trading, margin, and derivatives.

SBET extends this innovation to digital asset treasuries by:

• Providing real-time trading access
• Enabling staking for yield generation
• Allowing use as DeFi collateral
• Supporting integration into derivatives and structured products

This onchain model eliminates traditional inefficiencies like settlement delays, limited trading hours, and counterparty risk inherent in legacy finance.

Injective’s Strategic Partnerships and Institutional Expansion

Injective continues to build connections with traditional finance and regulators:

• On July 17, Canary Capital filed for a Canary Staked INJ ETF with the U.S. Securities and Exchange Commission (SEC). This ETF would provide regulated exposure to Injective’s native token (INJ) along with staking rewards.
• Injective Labs submitted policy recommendations to the SEC’s Crypto Task Force to help shape regulation around onchain innovation.
• On July 13, Injective unveiled The Injective Council. The council is composed of Google Cloud, BitGo, Galaxy Digital, Republic, NTT Digital, and others, and advises on governance, product development, and institutional adoption.

These partnerships strengthen Injective’s position at the intersection of DeFi, institutional markets, and compliance.

Injective’s Broader Ecosystem

Injective’s iAssets framework powers a growing suite of tokenized financial instruments:

• Onchain equities such as Nvidia, Meta, and Robinhood.
• Commodities like gold, silver, and oil.
• Foreign exchange markets with continuous global trading.
• Yield-bearing stablecoins including USDY by Ondo Finance and USDM by Mountain Protocol.
• Synthetic asset markets such as the BlackRock BUIDL Index Perpetual Market.

SBET is part of this expanding ecosystem that aims to bridge traditional finance assets and DeFi’s programmable capabilities.

FAQs

What is SBET by Injective?

SBET is the first onchain digital asset treasury token, representing ownership of SharpLink Gaming’s $1 billion Ethereum reserve, enabling trading, staking, and DeFi use.

How does SBET differ from traditional treasuries?

Unlike traditional treasuries that remain idle, SBET can be traded 24/7, staked for yield, used as collateral, and integrated into decentralized finance products on the blockchain.

What framework powers SBET?

SBET is built on Injective’s iAssets framework, which supports native programmability, governance, liquidity, and cross-protocol composability for onchain assets.

Resources:

1. Injective SBET Announcement: https://blog.injective.com/injective-pioneers-the-first-onchain-digital-asset-treasury-with-sbet/

2. Canary Staked INJ ETF Application: https://www.sec.gov/Archives/edgar/data/2073616/000199937125009309/canaryinj-s1_071725.htm?ref=blog.injective.com

3. Injective iAssets Paper: https://injective.com/iAssets_Paper.pdf