SCHEDULE: Sharplink Inc. Ownership Update: Major Holder Sells Shares

An amendment to a Schedule 13D filing reveals that Consensys Software Inc. sold all of its 5,676,952 shares of Sharplink, Inc. common stock on October 8, 2026, at $8.39 per share.

Summary

• This filing is an amendment to a Schedule 13D concerning beneficial ownership of Sharplink, Inc. common stock.
• Joseph Michael Lubin, Consensys Software Inc. (CSI), Consensys AG (CAG), Permanent Highest Power Capital LLC (PHPC), and Ethereal Ventures Fund II L.P. (Fund II) are the reporting persons.
• On October 8, 2026, CSI sold all 5,676,952 shares of common stock it held in a block trade for $8.39 per share, liquidating its position.
• As a result of this sale and an increase in outstanding shares, the reporting persons' collective beneficial ownership decreased to 10,866,132 shares, representing approximately 4.9% of the outstanding common stock.
• The filing notes that pre-funded warrants held by Mr. Lubin, PHPC LLC, and CSI were exercised due to an increase in outstanding shares, which increased their voting power but did not change their intent regarding the investment.
• The reporting persons may acquire or dispose of additional securities in the future and may take actions as they deem appropriate.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this filing as having a negative sentiment due to a significant sale of shares by a major holder and a reduction in overall beneficial ownership percentage, despite the stated reasons for the transactions.

Positives

• The sale of shares by CSI was at a price of $8.39 per share, indicating a realized value for those holdings.
• The exercise of pre-funded warrants, while not a change in intent, increased the voting power of some reporting persons.

Negatives

• Consensys Software Inc. sold all of its 5,676,952 shares of common stock, significantly reducing the reporting persons' aggregate beneficial ownership.
• The collective beneficial ownership percentage has fallen to 4.9% from a previously higher percentage (implied by the need for a 13D filing and the previous 5% threshold).
• The filing indicates a liquidation of position by CSI, suggesting a desire to exit or reduce exposure to Sharplink, Inc.

Risks

• The reporting persons may continue to dispose of securities, potentially impacting the stock price.
• Future actions by the reporting persons regarding their investment are not predetermined and could be adverse to the company or other shareholders.

Future Outlook

The reporting persons may, in the future, take actions with respect to their investment in the Issuer as they deem appropriate, including changing their current intentions. They may acquire additional securities or dispose of all or a portion of their current holdings.

Management Comments

• CSI effected the sale to liquidate their position.
• Although the exercise of such warrants increased the voting power of the Reporting Persons, it did not reflect any change in the intent of the Reporting Persons with respect to their investment in the Issuer.
• Except as set forth above, at the present time, the Reporting Persons do not have any current plans or future intentions of making additional changes to the board of directors, management, or changing the number/terms of board of director members of the Issuer.

Industry Context

StockSavvy.ai notes that this filing pertains to a significant shift in beneficial ownership for Sharplink, Inc., a company operating in the digital media and technology space. The actions of major holders like Consensys Software Inc., particularly in the context of blockchain and web3, can signal shifts in strategic investment or market sentiment within this evolving sector.

Stakeholder Impact

• Shareholders may be impacted by the significant sale of shares by CSI, potentially affecting stock liquidity and price.
• The reduction in beneficial ownership percentage by a key entity could influence investor perception of the company's strategic direction and stability.

Next Steps

• Reporting persons may acquire or dispose of additional securities of the Issuer.
• Reporting persons may take other actions with respect to their investment as they deem appropriate.

Key Dates

Recommendation

The filing indicates a significant reduction in beneficial ownership by a major holder (CSI), which is a negative signal. However, the stated reasons for the sale (liquidation) and the continued potential for future investment by the reporting persons, coupled with the exercise of warrants without a change in intent, suggest a neutral stance is warranted. The price of the sale ($8.39) is a factual data point but does not provide enough information for a buy/sell recommendation without further context on the company's valuation.

Keywords

Sharplink Inc., Schedule 13D, Beneficial Ownership, Consensys Software Inc., Joseph Michael Lubin, Block Trade, Warrants