Vice President of Business and Legal Affairs at @Sharplink
Riverview, Florida
Joined January 2009
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- Following11.5K
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Ethereum isn't just powering the future of finance — it's becoming the foundation of it.
Stablecoins, tokenization, DeFi and AI-driven commerce are converging on a network built for trust, transparency and scale.
At @Sharplink, our conviction is clear: Ethereum's institutional era is just beginning.
Ethereum is financial infrastructure.
Four trends are converging on the most credibly neutral network:
→ Stablecoins. 57% on Ethereum.
→ Tokenized assets. 56% on Ethereum.
→ Onchain finance. $60B and counting.
→ AI agents. Hundreds of millions of transactions this year.
With 100+ institutional deployments, institutional adoption is accelerating.
We're proud to work with companies like @ethereuminsti as we all work towards bringing the next 1,000 onchain.
ETH, held.
Conviction, held.
Dodi Handy retweeted
Anyone can own $ETH. We know how to put it to work.
Over the last year, Sharplink has done roughly $500M worth of deals to put ETH to work across the ecosystem.
These include staking deployments, a dedicated onchain yield fund, and investments for the teams leading Ethereum’s next decade.
Here’s how it fits together 👇
Dodi Handy retweeted
Last week I had the pleasure of sharing the stage with @ethereumjoseph at our Ethereum Ecosystem Summit alongside @token2049.
The topic was “Ethereum’s Next Decade: The Cryptographic World Computer,” moderated by @mcamarda0.
Over the past two weeks at KBW and Token2049, we’ve focused on what’s happening now: the convergence of stablecoins, tokenized assets, onchain finance and AI agents. There is a clear acceleration of institutional adoption.
Individually, each of these elements is transformational. Together, they form the catalyst for a financial revolution that will lead to a new era of economic growth and financial autonomy for investors and consumers around the world.
But what will Ethereum look like by 2035? On our panel, we had the opportunity to take a step back and think big.
Vitalik recently shared that the Ethereum ecosystem will transition from a traditional blockchain into a high-capacity “cryptographic world computer.” But what does this mean in practice?
Ethereum’s foundation of trust and security rests on participants’ ability to independently verify transactions and their outcomes. Its continued evolution builds on that strength, expanding its capacity to support the global financial system. Ethereum’s coming architecture will be leaner and more modular, using ZK proofs and virtual machines to verify results more quickly and cheaply. These advances will support stronger privacy alongside better performance, while further upgrades will strengthen the network against emerging quantum threats. As that foundation becomes faster, more scalable, more private and more secure, we can begin to envision how much further Ethereum can go.
Here’s what this means in practice.
Tokenization will bring the world's value onchain, but this is just the on-ramp. Onchain finance at near zero cost will be the utility layer. Zero-knowledge proofs will be the engineering that allows neutral trust at a global scale. We will live in a world where any asset can be traded 24/7 with deep liquidity and can settle in an instant. Tokenized assets will be the preferred form of collateral not just in DeFi but across traditional execution venues. Programmable assets and money that run on blockchain rails will allow billions of AI agents to sift through millions of data points and scenarios to make the best decisions for consumers. Billions of AI agents will leverage machine intelligence, financial literacy and unlimited attention. They will provide retail investors with the same capabilities and outcomes as the largest Wall Street institutions.
To fully realize this vision, Ethereum’s core principles and advantages will become even more important. The words credibly neutral, decentralized, and censorship resistant mean different things to different audiences. In practice, they will underpin the foundation of the new digital and agentic economy.
Indulge me to explain why I believe these principles are so critical:
Credibly neutral means a network where the core rules, transaction ordering, validation, and settlement are applied consistently without favoring any specific person, company, or agenda. When the world’s largest financial institutions move their infrastructure onchain, they require one that will remain stable and resilient over decades because market participants know the rules of the game will not suddenly be rewritten to benefit insiders. This is equally important because the billions of agents that are coming onchain will rely programmatically on Ethereum for the essential architectural backbone of a machine-to-machine economy.
Decentralization means a network where no single company, bank, or government controls the ledger or makes the rules. Decentralization will create a new type of trust that relies on self-executing smart contracts without the need to rely on human or corporate trust. This automated trust, combined with instant settlement of transactions, will lead to a massive reduction in financial market risk. Equally important, it will ensure the AI agents can seamlessly interact with different decentralized protocols. They can lend on one platform, borrow on another, and hedge derivatives, without always needing API keys or permission from corporate gatekeepers.
Censorship resistant means a technical and structural guarantee that anyone with an internet connection can create an account or broadcast a transaction without applying for permission from a centralized authority. In practice, it means that Ethereum applies the exact same mathematical rules to everyone. This is not a political slogan, but rather a prerequisite for the future onchain and agent economy. No one can be unbanked and no AI agent can be excluded from the new machine-to-machine economy.
We envision a future where the Ethereum ecosystem will form the global, decentralized settlement infrastructure for the movement of assets and transactions, a new internet of value. This design will make it more difficult for highly-placed intermediaries to exploit a lack of attention to collect rents. It will make it easier for billions of AI agents with unlimited financial attention to deliver value for investors and consumers around the world.
At Sharplink, we have more conviction than ever that Ethereum is best-positioned to deliver this future, a value proposition that is hard to overstate.
ETH, held.
Conviction, held.
AI agents are not simply changing how finance operates -- they are creating an entirely new financial universe. With the potential to rewire $4 trillion in financial fees by 2035, the greatest opportunity is clear: delivering more value directly to consumers.
Proud to see @Sharplink helping lead this important conversation.
AI agents are creating a new financial universe.
They will rewire $4 trillion of finance fees by 2035 according to a new estimate from @Sharplink.
The biggest winners will be consumers.
🧵
Dodi Handy retweeted
When platforms like Revolut bring Euro-backed stablecoins to Ethereum, they are choosing the network with the deepest liquidity, the most battle-tested security, and the most composable infrastructure.
The world’s institutions are choosing Ethereum. The choice is clear.
Congrats to @Revolut and @stablecoin.
Another 586 ETH earned this week by putting our treasury to work.
26,193 ETH in cumulative staking rewards and counting.
This is what productive treasury management looks like: growing our ETH holdings organically while helping support the Ethereum network.
Conviction compounds. $SBET
~60% institutional ownership in $SBET as of the latest 13-F filings, with major existing holders increasing their positions and 50+ institutions initiating new ones.
Fidelity. BlackRock. Morgan Stanley. Vanguard. State Street. Invesco. Highbridge.
The caliber of capital — and the direction of travel — speaks volumes.
SharpLink's institutional ownership increased to ~60% as of June 30.
And many of our largest existing holders increased their positions, including @Fidelity, @BlackRock, @MorganStanley, @Vanguard_Group, @StateStreet, @InvescoUS, and Highbridge Capital Management.
More than 50 institutional holders initiated new positions in $SBET.
Dodi Handy retweeted
60% institutional ownership. This is much more than a stat.
This is a testament to the strategy and team we’ve built.
Looking forward to seeing even more institutions and retail investors join us on this journey.
SharpLink's institutional ownership increased to ~60% as of June 30.
And many of our largest existing holders increased their positions, including @Fidelity, @BlackRock, @MorganStanley, @Vanguard_Group, @StateStreet, @InvescoUS, and Highbridge Capital Management.
More than 50 institutional holders initiated new positions in $SBET.
Dodi Handy retweeted
In Q2, Sharplink doubled down in activating our treasury and ushering in a new Ethereum era.
From ETH productivity partnerships to investing in companies driving institutional adoption, this was a positive quarter of building momentum and helping accelerate the institutional adoption supercycle.
A snapshot:
→ $11.5M in quarterly revenue as of June 30
→ 888,938 ETH holdings as of August 3
→ 24,755 in cumulative staking rewards as of August 3
Dodi Handy retweeted
We also announced plans with @GalaxyHQ to establish the Galaxy and SharpLink Onchain Yield Fund, a ~$125M initiative to deploy capital into onchain opportunities generating risk-managed, ETH-denominated yield.
The fund was officially launched on Friday, August 7th.
globenewswire.com/news-relea…
Ethereum has spent years building trust. We should be very careful about changing the incentives that helped create it.
Worth reading Sharplink's @joechalom's perspective on EIP-8363 and the debate ahead.
#Ethereum #ETH #DeFi #Staking #Tokenization #SBET
Institutional adoption requires more than scale — it requires privacy. So proud that @sharplink is playing a role in this important initiative with @eth_systems.
Sharplink has anchored the launch of @eth_systems, alongside @BitMNR and @ethereumjoseph, to build the technology that makes best-in-class privacy a standard on Ethereum.
On a public ledger, the default is full exposure, which does not work for all financial institutions. That’s why this work is so critical.
globenewswire.com/news-relea…
Dodi Handy retweeted
We discuss liquidity and size as competitive advantages of Sharplink to grow ETH per share over time. We believe we can do bigger, better deals with our ETH that are sized beyond reach of most players in our ecosystem and therefore command better economics as we grow ETH holdings. The more ETH we have all else equal, the more deals available to us. Liquid ETH that doesn't need to go through an unstaking queue useful for deployments too at times.
As we increase our deployments, the goal is to increase the ETH rate of return on marginal deployments over time (as we push further out our view of the efficient yield / ETH denominated return frontier). Having the size to negotiate and deploy is one of the things we view as a major advantage. Our Linea, Etherfi, Eigen deal for $200m from earlier this year is an example. Same deal isn't very interesting to them in small size. Our Galaxy fund MOU announcement follows similar principals. The sizes are attractive so deals can be made.
Additionally, when we do capital markets deals like the one we did to raise the $75m or the ATM historically (when we were above mNAV 1), the pricing, and scale factor in our trading volumes. It's less likely someone could offer the same economics to us all else equal if we had 50% of the volumes. There's a long list of treasuries that launched late last year with anemic trading volumes today. I personally have not seen many similarly sized, competitively priced capital markets transactions come from them.
With almost 50% of the stock owned by institutions, we believe each marginal $1 of shares repurchased reduces volumes by more than $1 (part of why I believe we went from hundreds of millions a day last year to a still strong ~$50m now is that we went from ~5-6% institutionally owned to 47% in under a year). Great for adoption, it was our goal to be the trusted player. But there are tradeoffs.
A lot of those institutions are longer term strategies. We believe more of the shares we repurchase come from the active trader bucket than from those institutions, so volumes can get reduced with repurchases. So to remain kinetic, get stronger terms raising and have the ability to raise at a good pace off the ATM in the future, we consider ongoing liquidity. We have some large institutional holders who likely have position limits as a % of the stock, and dynamic risk parameters that consider their position size as a function of trading volumes (slippage to exit position in X time). So repurchases increase their ownership %, and could reduce the liquidity which may mean on the margins they get pushed out of some of their position (forced seller).
Finally, ability to do the trade at opportunistic times. ~$50m of Sharplink trades daily. $10B of ETH traded in the last 24H. We were able to repurchase $10m of shares at $4.69 and 10,000 ETH at $1670 when the market gave us the chance. I don't think we could have bought back $26m of SBET at $4.69 in the same time period. So we were able to get our ETH per share exposure at those prices via a hybrid approach. Obviously the lower the mNAV the more that changes the calculus of ETH per share growth, versus liquidity, target price slippage, versus the ETH purchase and deployments in the pipeline and their upside, etc.
It's all a tradeoff, we think repurchases were accretive when we did them, and we thought ETH was a great buy too for our goals. We'll continue to dynamically assess on a number of criteria, and try to be consistent in our frameworks so we can be trusted by institutions and individual investors alike to execute on our mission through a long term, holistic, expected value lens. We will also continue to seek input from stockholders when we do transactions to ensure our strategy and vision are aligned, our frameworks are stress tested and evolve them as it makes sense.
Dodi Handy retweeted
We had the opportunity to buy ETH and repurchase our stock at attractive valuations, so we did both.
This past week we added 10,000 ETH and repurchased 2,132,773 shares.
This week Sharplink acquired 10,000 ETH, bringing total holdings to 886,725 ETH (worth ~$1.4B at today's ETH price of $1,570).
We also repurchased 2,132,773 shares for roughly $10M at an average price of $4.69, part of our buyback program that has now repurchased 4,071,223 common shares since August 2025.
Acquire ETH. Buy back stock when it is undervalued.
This is Ethereum with an edge.
globenewswire.com/news-relea…
This is an important perspective from @joechalom.
Ethereum crossing 1 million lifetime developers is more than a milestone. It reflects a decade of compounding network effects across builders, standards, infrastructure, liquidity and institutional trust.
The strongest moats in technology are often ecosystems, not features.
Ethereum’s future is being built today.
Great article, @joechalom.
Dodi Handy retweeted
Leading Ethereum stewards @Consensys and @ethereumJoseph have joined DeFi United with up to 30,000 ETH in financial support for the rsETH recovery effort, with ongoing strategic advisory from @Sharplink.
Their contributions are a substantial component of the broader DeFi United effort to restore rsETH's backing and normalize market conditions, and the recovery would not be progressing as it is without them.
DeFi United.
Dodi Handy retweeted
Excited to speak on our earnings call shortly about what we accomplished in 2025 and what we are doing in 2026.
Q&A from our analysts to follow.
Hope you can join me for the conversation:
event.choruscall.com/mediafr…
