Ethereum Treasury Firms May Soon Evolve Beyond Crypto, Says SharpLink Gaming CEO

Joseph Chalom, CEO of SharpLink Gaming and former BlackRock executive, shared insights at Korea Blockchain Week 2025, suggesting that Ethereum treasury firms could soon expand their scope beyond the cryptocurrency market. According to Chalom, the real opportunity lies not just in the $4 trillion crypto market cap but in the vast $700 trillion traditional asset market, which has the potential to migrate to decentralized networks.

Chalom emphasized blockchain technology’s ability to eliminate settlement delays and reduce costs, calling it the greatest risk reduction in financial history. He believes that Ethereum treasuries should move beyond merely accumulating ETH. Instead, they should focus on building businesses that lend, validate transactions, and seed new protocols to accelerate institutional adoption.

Digital asset treasuries (DATs) have quickly become one of the fastest-growing niches within crypto, offering investors a level of flexibility that surpasses traditional ETFs. Dan Kang, from DeFi Development Corp, compared DATs to speedboats—faster and more adaptable than passive investment vehicles.

Both Kang and Chalom agreed that the survival and success of DATs depend heavily on growth metrics such as liquidity, trading activity, and the ability to increase assets per share. While most DATs were launched during a bull market, they downplayed concerns about downturn risks by highlighting staking and on-chain strategies that generate organic yield.

Kang added that buybacks could become a sensible strategy in the future, provided they do not involve selling core holdings. Meanwhile, Chalom stressed SharpLink’s long-term vision: “We’re not chasing a 5% ETH stake just to sit on it.” The ultimate goal, he said, is to transform finance by demonstrating how decentralized networks can effectively support markets on a global scale.

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**About the Author:**
Alexander Zdravkov is a reporter at Coindoo who always seeks the logic behind things. Fluent in German, he brings over three years of experience in the crypto space, expertly identifying emerging trends in digital currencies. Whether providing in-depth analysis or daily updates, his deep understanding and enthusiasm make him a valuable member of the Coindoo team.
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