Injective has launched SBET, marking a world-first in onchain digital asset treasuries (DATs) and redefining how companies manage their crypto reserves.
The launch represents a significant leap forward for Injective’s iAssets framework and the broader tokenized real-world asset (RWA) ecosystem.
According to the announcement, SBET tokenizes SharpLink Gaming’s $1 billion Ethereum (ETH) treasury, transforming it into a tradable, yield-generating asset on the blockchain. Unlike traditional corporate treasuries that remain idle, SBET can be traded around the clock, staked to earn yields, deployed as DeFi collateral, or integrated into derivatives and structured products.
???? Injective has launched the first ever onchain Digital Asset Treasury (DAT).$SBET, the largest DAT for $ETH is live onchain, giving Injective users 24/7 access with leverage to one of the hottest financial products yet.
The future of global markets starts on $INJ pic.twitter.com/OXW6PuLkjd
— Injective ???? (@injective) July 24, 2025
The product builds upon SharpLink’s aggressive ETH accumulation and staking strategy, which had earlier sent SBET shares soaring by over 400% following the announcement of its ETH treasury initiative. This initiative was spearheaded in collaboration with ConsenSys and Ethereum co-founder Joe Lubin. In mid-July, further optimism around Ethereum saw SBET stock climb another 29% alongside ETH’s price rally.
The SBET launch is part of Injective’s broader push to expand its suite of tokenized products through its iAssets framework and RWA module. Recent highlights include yield-bearing stablecoins such as USDY by Ondo Finance, USDM by Mountain Protocol, and AUSD by Agora, the latter built in partnership with VanEck and State Street. These stablecoins enable DeFi users to earn daily rebasing or interest yields while maintaining full price stability and liquidity.
Injective has also rolled out tokenized indices and synthetic markets, including the BlackRock BUIDL Index Perpetual Market, which tracks the BUIDL tokenized fund composed of short-term U.S. Treasuries. Other innovative offerings include AIX, a hybrid index blending top AI tokens with major AI-related equities like NVIDIA, and equity-based iAssets such as iNVDA, providing decentralized leveraged exposure to individual stocks.
Earlier this year, tokenized commodities entered the Injective ecosystem, with gold (XAU) and silver (XAG) now available on-chain. These assets offer programmable, round-the-clock access to traditionally illiquid markets, and can be traded, staked, or used as DeFi collateral, enhancing their utility far beyond simple spot speculation.
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