Joe Chalom, the former head of digital assets strategy at BlackRock, is now making a pointed case for Ethereum. As CEO of Sharplink (Nasdaq: SBET), he argues Ethereum deserves a spot in corporate treasuries as a yield-generating, programmable asset.
Chalom joined Sharplink in July 2025. The company raised $75 million in 2026 to expand its Ethereum holdings and stakes nearly all of its ETH, pursuing a strategy of increasing ETH per share.
Sharplink's institutional ownership jumped from 6% to 47% between mid-2024 and March 2026. The company's board chairman is Ethereum co-founder Joseph Lubin.
Chalom's core argument is utility. He contends Ethereum does everything Bitcoin does while powering a massive ecosystem of economic activity, including over 50% of all stablecoins and dominance in decentralized finance.
Ethereum stakers earn rewards for validating transactions, unlike Bitcoin holders. Sharplink employs sophisticated liquid restaking strategies to generate layered yield. This approach carries risks, including smart contract vulnerabilities.
Ethereum's long-term roadmap includes quantum resistance, a factor in the investment thesis. Investors are watching Sharplink's ETH per share metric as a key indicator of this treasury model's success.