Institutional Fund Begins Deploying Capital Across Decentralized
Finance and Onchain Yield Strategies

NEW YORK, Aug. 07, 2026 (GLOBE NEWSWIRE) -- Sharplink, Inc. (Nasdaq: SBET) and Galaxy Digital Inc. (Nasdaq: GLXY) today jointly announced the launch of the Galaxy Sharplink Onchain Yield Fund, LP (the “Fund”), a first-of-its-kind institutional investment vehicle designed to deploy capital into onchain yield strategies and identified investments. Managed by Galaxy, the Fund launches with $125 million in committed capital, including $100 million backed by Sharplink’s staked ETH treasury and $25 million from Galaxy.

The launch adds to a growing set of institutional digital asset investing strategies. It demonstrates a new model for corporate treasuries actively deploying capital to pursue additional risk-managed returns via onchain yield strategies.

Galaxy's investment process is built on years of institutional experience deploying capital across digital asset markets. The firm has deployed significant capital across market cycles since 2020 with proprietary research, rigorous protocol diligence and comprehensive risk controls.

“We’re entering a new phase of institutional adoption, with capital moving from passive ownership to active participation in blockchain-based markets,” said Mike Novogratz, Founder and CEO of Galaxy. “This Fund reflects that shift by pairing Sharplink’s substantial ETH treasury with Galaxy’s institutional investment platform to access opportunities across the onchain economy through a disciplined investment approach.”

“Today’s launch deepens our partnership with Sharplink, which we view as an institutional leader in the onchain economy,” said Steve Kurz, Global Co-Head of Digital Assets at Galaxy. “It also adds the first institutional-grade, scaled onchain strategy to Galaxy’s asset management platform.”

Joseph Chalom, Chief Executive Officer of Sharplink, said, “We believe this Fund marks a next step for Sharplink expanding its ETH treasury management strategy. While corporate strategies have historically focused solely on accumulation via capital market raises and staking of assets, we believe this represents part of a disciplined, institutional-grade allocation designed to make our ETH even more productive. This Fund underscores our conviction that ETH can serve as a productive treasury asset with potential upside for our shareholders.”

Matthew Sheffield, Chief Investment Officer of Sharplink, added, “Emerging crypto protocols and projects often face a cold-start problem, while there are billions of dollars waiting to be deployed by venture funds to buy tokens or company equity. But importantly, most of this venture capital is not used to kickstart activity within the actual protocols. That initial momentum is necessary for projects to reach escape velocity. We believe this Fund can fill that gap for innovative projects building in the ecosystem and may help generate risk-managed returns for investors.”

About Galaxy

Galaxy Digital Inc. (Nasdaq: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody and tokenization technology. In addition, we develop and operate cutting-edge data center infrastructure to power AI and HPC workloads. Our 1.6 GW Helios campus in Texas positions Galaxy among the largest and fastest-growing data center developers in North America. The Company is headquartered in New York City, with offices across North America, Europe, the Middle East and Asia. Additional information about Galaxy's businesses and products is available on www.galaxy.com .

About Sharplink

Sharplink (Nasdaq: SBET) is a leading institutional-grade Ethereum treasury platform designed to give public market investors smarter, more productive exposure to ETH. Ethereum underpins the majority of global stablecoin, tokenized real-world assets and decentralized finance settlement. Sharplink was founded in 2019 and is headquartered in Miami, Florida. Learn more at sharplink.com .

CAUTION ABOUT FORWARD-LOOKING STATEMENTS

Forward-Looking Statement Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and these forward-looking statements are subject to various risks and uncertainties. Such statements include, but are not limited to, goals and expectations regarding Sharplink's strategy and potential partnerships; the intended use of proceeds, including potential share repurchases; Sharplink's Ethereum treasury strategy and expected common stock per-share effects; and other statements accompanied by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words, but the absence of these words does not mean that a statement is not forward looking. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the anticipated gross proceeds from the Offering, the intended use of proceeds therefrom, the satisfaction of customary closing conditions, and the expected timing and completion of the Offering, the potential use of Sharplink's ATM facility; Sharplink's ability to repurchase additional shares of its common stock under its stock repurchase program; Sharplink's ability to achieve and sustain profitable operations; volatility in the market price of ETH and its resulting impact on Sharplink's accounting and financial reporting; changes in government regulation of cryptocurrencies and online betting; changes in securities laws or other applicable regulations; fluctuations in customer demand and overall economic conditions; competitive pressures, including competing products, pricing, and sales cycles; the protection and enforcement of Sharplink's proprietary rights; and other risks and uncertainties described in Sharplink's Annual Report and other filings with the SEC. Under U.S. generally accepted accounting principles, entities are generally required to measure certain crypto assets at fair value, with changes reflected in net income each reporting period. Changes in the fair value of crypto assets could result in significant fluctuations to the balance sheet and income statement results. Additionally, for other certain types of crypto assets, Sharplink uses the historical costs less impairment model. This model may require Sharplink to record an associated impairment charge reflected in net income as a result of a decrease in the market price of the crypto assets below the cost value at which Sharplink's crypto assets are carried on its balance sheet. Any forward-looking statements contained in this press release speak only as of the date hereof, and Sharplink does not undertake any responsibility to update the forward-looking statements in this press release. There can be no assurance that any repurchases will be made under the program, and any repurchases may be suspended, modified or discontinued at any time and are subject to market conditions and applicable legal requirements.

CONTACTS AT GALAXY
Investor Relations Contact
Jonathan Goldowsky
[email protected]

Media Relations Contact
Michael Wursthorn
[email protected]

CONTACTS AT SHARPLINK
Investor Relations Contact
Sean Mansouri, CFA or Aaron D’Souza | Elevate IR
Phone: (720) 330-2829
Email: [email protected]

Media Relations Contact
Email: [email protected]