Sharplink, Inc., one of the largest corporate holders of Ethereum, said Thursday that its ETH holdings have grown and that it has attracted a growing portion of institutional investors—with the firm revealing a brand refresh following last year’s crypto pivot.

Previously known as Sharplink Gaming and focusing on gambling marketing, the firm is now known simply as Sharplink, and has adopted the tagline, “Ethereum with an edge.” The publicly traded company said that the brand refresh and website overhaul better reflect its positioning in the treasury space.

“This evolution reflects alignment between Sharplink’s brand and our mission to be the most productive and durable Ethereum vehicle available to investors,” said Sharplink CMO Mandy Campbell, in a release. “Sharplink has and will remain focused on transparency, measurable results, and Ethereum advocacy. Our brand now reflects that focus and alignment with both our institutional and retail investors.”

In a new 13F filing with the SEC, the company said that institutional ownership of SBET stock has risen to 46% as of December 31, 2025, with about 60 additional institutional investors adding positions during the period.

“This record level of institutional ownership confirms that sophisticated investors want disciplined execution and institutional-grade risk management,” Sharplink CEO Joseph Chalom said, in a statement. “Many of these investors are choosing Sharplink because of our focus on productivity—Sharplink stakes nearly 100% of its ETH holdings and has staked our holdings since the beginning.”

“Even during volatile markets, we continue growing our ETH concentration per share,” he added. “No matter the price of the underlying asset, institutions know they can trust us to keep generating long-term value for our stockholders.”

Sharplink reported total ETH holdings of 867,798 ETH, worth about $1.68 billion as of this writing. That tally is up slightly since the last reported sum in December, thanks to staking rewards that provide a steady stream of yield on its holdings.

Sharplink ranks second in Ethereum treasuries based on total holdings, substantially behind leader BitMine Immersion Technologies with its roughly $8.5 billion stash.

The price of Ethereum has fallen dramatically in the last few months, recently trading at $1,939—a more than 60% drop since peaking at $4,946 last August.

That plunge has put every major Ethereum treasury company underwater with unrealized losses, with Sharplink nursing an estimated $1.39 billion paper loss according to data from DropsTab. But BitMine’s estimated paper loss is even larger in terms of percentage, sitting just shy of $8.1 billion.

Sharplink stock is up about 1% on the day, recently trading at $6.66. SBET has fallen over 39% in the last month as crypto prices have cratered, with Ethereum itself marking a 35% dip during the same span.

Chalom recently told Decrypt that Sharplink aims to set itself apart in 2026 by focusing on growing its Ethereum holdings when prudent, but not putting constant ETH accumulation above all—and not making unrelated investments as some other treasury firms have done in recent months.

“We’re not going to be the people who are prioritizing accumulation over everything,” he said. “2026 is really differentiating ourselves from the pack, and being viewed as the focused, disciplined digital asset treasury.”