Joseph Chalom Joins SharpLink Gaming as Co-CEO After 20 Years at BlackRock: A Strategic Shift for Ethereum’s Future

• Why Did Joseph Chalom Leave BlackRock for SharpLink Gaming?
• SharpLink’s Ethereum Power Play: 360,809 ETH and Counting
• The “ETH as Financial Infrastructure” Thesis
• BlackRock’s Loss, Ethereum’s Gain?
• FAQs: The Chalom-SharpLink Move Explained

Joseph Chalom, a key architect behind BlackRock’s crypto innovations like the IBIT Bitcoin ETF and Ethereum’s Etha, has left the financial giant to become Co-CEO of SharpLink Gaming. His move signals a bold bet on Ethereum’s role in reshaping global finance, with SharpLink holding the second-largest ETH treasury (360,809 ETH) and plans to surpass the ethereum Foundation’s reserves. This article dives into Chalom’s legacy, SharpLink’s ambitious roadmap, and why this leadership shakeup matters for crypto’s institutional adoption.

Why Did Joseph Chalom Leave BlackRock for SharpLink Gaming?

After two decades at BlackRock, where he pioneered crypto-tradFi hybrids like the $43B IBIT ETF (now the world’s largest Bitcoin ETP), Chalom is trading Wall Street’s ivory tower for SharpLink’s Ethereum-centric vision. In his July 25, 2025 tweet, he cited a mission to make Ethereum “the trust layer at the heart of global finance” – a stark contrast to BlackRock’s Bitcoin-heavy focus. Industry insiders speculate Chalom’s departure reflects growing institutional divides over ETH’s utility versus BTC’s store-of-value narrative.

SharpLink’s Ethereum Power Play: 360,809 ETH and Counting

SharpLink isn’t just another crypto startup. With its 360,809 ETH treasury (worth ~$1.2B at current prices), it trails only the Ethereum Foundation in ETH holdings. Unlike typical ICO projects that dump reserves for operating costs, SharpLink’s ETH is strategically deployed:

• LSETH Liquidity: 78% of treasury ETH is staked in LSETH, a liquid staking token generating passive yield (Source: Etherscan)
• OTC Expansion: Recent 10,000 ETH purchase from Ethereum Foundation’s ICO reserves hints at aggressive accumulation
• 1M ETH Goal: CEO Robert Phythian confirmed plans to outpace the Foundation’s holdings by 2026

The “ETH as Financial Infrastructure” Thesis

Chalom’s hiring validates SharpLink’s unorthodox strategy: using ETH not as a speculative asset, but as collateral for real-world financial products. Their SBET tokenized stock (trading at $22 on BTCC and Injective) exemplifies this – it’s essentially tradable equity backed by ETH treasury assets. As Ethereum co-founder Joseph Lubin noted, “Few executives have Joseph’s track record in bridging institutional and crypto finance.”

BlackRock’s Loss, Ethereum’s Gain?

Chalom’s exit raises questions about BlackRock’s crypto roadmap. He spearheaded critical partnerships with Coinbase, NASDAQ, and Circle – relationships SharpLink may now leverage. Meanwhile, SharpLink’s alignment with Ethereum Foundation values (evidenced by joint developer grants) positions it as a de facto extension of ETH’s ecosystem. “This isn’t just a job change – it’s a philosophical realignment,” remarked BTCC analyst Mark Chen.

FAQs: The Chalom-SharpLink Move Explained

What products did Joseph Chalom build at BlackRock?

Chalom led creation of IBIT (world’s largest bitcoin ETP), Etha (Ethereum ETP), and BUIDL (tokenized money market fund), collectively managing over $60B in assets.

How does SharpLink’s ETH treasury compare to others?

At 360,809 ETH, it’s second only to Ethereum Foundation’s ~500K ETH. Notably, SharpLink’s ETH is actively staked, unlike static Foundation holdings.

Will SharpLink sell ETH for operational costs?

No. Per CEO Phythian, ETH will be used exclusively for staking yields and collateral – a “hodl” strategy mirroring MicroStrategy’s Bitcoin approach.