SharpLink Gaming connects sports fans and publishers with gambling companies through affiliate marketing and data-driven acquisition solutions.
What happened
According to one SEC filing on February 2, 2026, Apeiron Capital Ltd acquired all 1,354,400 shares of SharpLink Gaming (Sbet 6.16%) during the fourth quarter. The estimated transaction value was $23.04 million, calculated based on the average closing price for the period. The fund’s quarter-end position in SharpLink Gaming fell to zero, with the reported value of the stake falling by $23.04 million.
What else you need to know
Summary of Direction: The fund has sold out its entire SharpLink Gaming stake; the position now represents zero of the reported 13F assets under management.
Top positions after filing:
- NYSE:ONON: $36.99 million (42.8% of assets under management)
- NASDAQ:SMMT: $22.90 million (26.5% of assets under management)
- NASDAQ:QFIN: $19.80 million (22.9% of assets under management)
- NYSEMKT:KWEB: $4.26 million (4.9% of assets under management)
- NYSE:VRT: $2.53 million (2.9% of assets under management)
On January 30, 2026, shares of SharpLink Gaming were priced at $8.88, up 62.6% over the past year with an alpha of 48.3 percentage points versus the S&P 500.
Apeiron Capital is undergoing a broad liquidation, with a 59% reduction in 13F reportable assets this quarter.
Company overview
| Metric | Value |
|---|---|
| Yield (TTM) | $13.11 million |
| Net income (TTM) | ($1.03 million) |
| Price (as of market closing 1-2-26) | $8.88 |
| One year price change | 62.6% |
Business snapshot
- SharpLink Gaming provides affiliate marketing services, sports gaming client solutions, free-to-play games and corporate telecom spend management, with its primary revenue coming from connecting sports fans and publishers with sports betting and iGaming operators.
- It operates a multi-segment business model focused on affiliate marketing, data-driven player acquisition and enterprise software solutions for the gambling and telecom sectors.
- The company serves sports fans, sports media publishers and global iGaming operators looking for qualified traffic, player acquisition and retention solutions.
SharpLink Gaming, Inc. uses proprietary technology to connect sports fans and publishers with contextual sports betting and iGaming content, driving monetization through affiliate marketing and data services.
The company’s diversified platform supports both US and international markets and includes affiliate marketing, customer service and business solutions. SharpLink’s focus on driving high-quality traffic and player conversion positions the company competitively within the rapidly evolving online gambling and sports betting ecosystem.
What this transaction means for investors
Hong Kong-based Apeiron Capital selling its entire stake in SharpLink Gaming may have more to do with the investment firm’s internal objectives than a red flag about SharpLink. That’s because Apeiron Capital’s total assets under management have undergone a dramatic reduction.
In the third quarter, Apeiron Capital had $210.4 million in assets under management. At the end of 2025, the company had $86.5 million in assets under management and just five holdings.
As for SharpLink Gaming, the company has completely transformed its business model. It may have started as a sports gaming related entity, but today it is focused on cryptocurrency. It calls itself ‘one of the largest companies in the world Ether.”
SharpLink is now focused on investing in Ethereum cryptocurrency. In the third quarter, revenue was $10.8 million, compared to $0.9 million last year, thanks to the appreciation of Ether. At the end of the third quarter, Ether holdings totaled 817,747.
SharpLink is a stock for those who want to invest in Ethereum. Otherwise, the company is no longer really a sports gaming organization. As a result, investing in SharpLink is a high-risk, high-reward gamble, only for those with a high risk tolerance.
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