The Register · tokenized SBET
What a tokenized SBET holder owns
5 tokens issued by 5 programs track Sharplink, Inc., and each gives the holder something different. Ketju has a file on 5 of them; each row below links to the file, which quotes the issuer.
What the holder owns
One version on file gives the holder the Sharplink, Inc. share itself: Superstate Opening Bell. 4 versions are notes or swaps that pay like the share and carry no rights in it: Ondo Global Markets, rTokens, Dinari dShares, xStocks.
Who may hold it
One version on file is offered to US persons: Superstate Opening Bell. The other 4 on file are not.
Who can freeze it
In 3 of the 5 programs with a readable contract, one private key can freeze, pause, or claw back holders’ tokens, or grant that power: Dinari dShares, Superstate Opening Bell, xStocks.
Every version, side by side
| Version | What the holder has | Control | ||||
|---|---|---|---|---|---|---|
| Token | Program | Owns | Who may hold | Redemption | Freeze key held by | Market cap |
| SBETON | Ondo Global Markets | Third-party synthetic | Not offered to US persons | Redeem with the issuer in its window | An account only a program can sign for | $565K |
| RSBET | rTokens | Third-party synthetic | Not offered to US persons | Redeem with the issuer in its window | Ketju found a freeze power but not who holds it | $28K |
| SBET | Dinari dShares | Third-party synthetic | Not offered to US persons | Redeem with the issuer in its window | A contract run by a single key | $566 |
| SBET | Superstate Opening Bell | Issuer direct | US retail investors | Redeem in kind | A single key | None stated |
| SBETX | xStocks | Third-party synthetic | Not offered to US persons | Redeem with the issuer in its window | A single key | None stated |
Market cap is CoinGecko’s figure on 2026-09-24, for the token itself and not for the share it tracks. The “Freeze key held by” column shows the weakest key that can freeze, pause, or claw back a holder, or grant that power, as Ketju read it from the chain.
Kinds of claim
- Third-party synthetic
- A note or swap that pays like the security and carries no rights in it. Ondo Global Markets, rTokens, Dinari dShares, xStocks.
- Issuer direct
- The on-chain record is the securityholder file; the holder is the registered owner. Superstate Opening Bell.