On July 25, Joseph Chalom, BlackRock’s former Head of Digital Assets Strategy, revealed that he left the investment giant to become co-CEO of SharpLink Gaming, a company aggressively building an Ethereum treasury.
(Source: Joseph Chalom on X)
Joseph Chalom Jumps to Ethereum-focused SharpLink Gaming
Chalom, a 20-year BlackRock veteran who handled the firm’s Bitcoin and Ethereum ETF initiatives, cited his Ethereum-focused vision as the reason for joining SharpLink, which now holds a staggering 360,000 ETH (worth around $1.34 billion).
While BlackRock maintains a diverse crypto portfolio (Including its spot Bitcoin ETF), SharpLink represents pure Ethereum maximalism, which is a philosophy Chalom openly embraces. His departure shows growing institutional confidence in Ethereum’s long-term potential beyond just ETF products. Under his leadership, SharpLink plans to “activate” its ETH reserves through staking, staking, and deeper integration with DeFi and real-world assets (RWAs).
SharpLink Gaming now holds the second place in the list of public Ethereum holders, with a massive 360,807 (worth $1.33 billion) in its treasury. The company has revealed that 95% of these holdings are actively working to generate yields, either staked directly or through liquid staking protocols. This approach optimizes their ETH reserves into a productive asset class, cementing Ethereum as a core part of their financial infrastructure.
Chalom’s joining at SharpLink Gaming shows a boosted confidence in some institutional players, from passive crypto investment (like ETFs) to active blockchain participation. SharpLink’s $354 million paper profit on ETH purchases shows the financial potential of this approach. If successful, Chalom’s vision could position Ethereum as the backbone for next-gen financial infrastructure, including stablecoins and AI-based transactions.
According to the latest data on the Strategic ETH Reserve, the Strategic Ethereum Reserve has crossed the $8.6 billion threshold, with 63 entities rallying behind Ethereum’s long-term vision.
“We’re thrilled to welcome Joseph Chalom as our new Co-CEO. A digital asset pioneer with two decades at BlackRock, Joseph’s arrival marks more than a leadership change,” Rob Phythian welcomed a new Joseph Chalom as our new Co-CEO.
He also revealed a change in his role, saying, “As for me: I’ll be transitioning to President over the coming quarter and continuing to serve on the Board. I’m excited to work side-by-side with Joseph to push new standards for what a public company can achieve with a digital treasury.”
Bitmine Immersion Technologies is the largest Ethereum Reserve holding company with 566,766 Ethereum, which is worth around $2.06 billion.
In the latest acquisitions, BitMine Immersion Technologies’ Ethereum (ETH) holdings have now exceeded $2 billion. This comes after the company recently secured $250 million in a private placement on July 8th as part of its asset-light treasury strategy. As of July 23rd, BitMine owns 566,776 ETH, valued at $3,643.75 ETH.
“We are committed to Ethereum’s continued growth and look forward to advancing our Ethereum treasury strategy.” Jonathan Bates, CEO of BitMine, states in a press release.
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