Injective launches SBET, the first onchain Digital Asset Treasury

Injective has launched SBET, the first onchain Digital Asset Treasury, marking a major milestone for its iAssets framework and the growing ecosystem of tokenized real-world assets.

Injective (INJ) has just announced the launch of SBET, the world’s first onchain digital asset treasury (DAT), transforming how companies manage crypto reserves. Built using Injective’s iAssets framework, SBET tokenizes SharpLink Gaming’s $1 billion Ethereum (ETH) treasury, turning it into a tradable, yield-generating asset on the blockchain.

Unlike traditional corporate treasuries that sit idle, SBET can be traded 24/7, used as DeFi collateral, staked for yield, and integrated into derivatives and structured products.

The SBET launch follows SharpLink’s aggressive ETH acquisition and staking strategy. Shares of SBET skyrocketed by over 400% after the initial announcement of the ETH treasury initiative spearheaded by ConsenSys and Joe Lubin. In mid-July, growing optimism surrounding Ethereum further boosted SBET stock, which climbed more than 29% alongside the rising price of ETH.

Injective’s Growing Range of Tokenized Assets

Beyond SBET, Injective is rapidly expanding its suite of tokenized products, pushing the boundaries of what can be brought onchain through its iAssets framework and RWA module.

Among its most prominent offerings are yield-bearing stablecoins, including USDY by Ondo Finance, USDM by Mountain Protocol, and AUSD by Agora (a collaboration involving VanEck and State Street). With daily rebasing or interest-bearing mechanisms, they allow DeFi participants to earn returns while maintaining price stability, unlocking passive income without sacrificing liquidity.

Injective has also introduced tokenized indices and synthetic asset markets, including the BlackRock BUIDL Index Perpetual Market, which tracks the tokenized BUIDL fund composed of short-term U.S. Treasuries. Other examples include AIX, a hybrid AI index that combines top AI tokens with major AI-related equities like NVIDIA, as well as equity-based iAssets like iNVDA, enabling decentralized, leveraged exposure to individual stocks.

In April this year, tokenized commodities have also entered the Injective ecosystem. Assets like gold (XAU) and silver (XAG) are now represented on-chain, allowing users to gain 24/7 programmable access to traditionally illiquid markets. These tokenized commodities can be traded, staked, or used as DeFi collateral, giving them utility far beyond simple price speculation.