Bybit, the second largest cryptocurrency exchange in the world by trading volume, has announced a new listing of equities on its TradFi platform.
New Companies on TradFi Platform
The TradFi platform by Bybit now offers trading for shares of three new companies: SharpLink Gaming Ltd. (NASDAQ: SBET), CleanSpark Inc. (NASDAQ: CLSK), and Bitfarms Ltd. (NASDAQ: BITF). This move showcases Bybit's efforts to expand its offerings, bridging traditional finance with digital assets.
Interest in SharpLink Gaming and Ethereum
Shares of SharpLink Gaming (SBET) have garnered market attention as the company acquired approximately 74,656 ETH, valued at around $213 million. This positions it among the largest institutional holders of Ethereum. Analysts compare SBET's strategy to MicroStrategy's well-known Bitcoin strategy, dubbing it 'Ethereum's version of MicroStrategy.'
Investment Strategies and Their Significance
Reports suggest that over 99.7% of SBET’s ETH holdings are currently deployed in staking strategies, helping the company generate on-chain yield since early June. While these figures are unconfirmed, they underscore the growing institutional interest in Ethereum as a strategic treasury asset.
The new equity listing on the TradFi platform signifies the increasing interest of traditional companies in digital assets and provides Bybit users with the opportunity to engage in trading with crypto-aligned equities.
