Booking Gains on SBET, BONK, Opportunity in AERO (Core Strategy Rebalance)
Jul 17, 2025
• 10
Min Read
Author
Core Strategy
Crypto Equities Portfolio
Book Some Gains on “High Flyers”
A month ago, we added SBET to our crypto equities portfolio. This was a bet on ETH outperformance as well as premium expansion from SharpLink, a company that had just undergone a massive selloff following subpar treasury strategy execution and was trading at ~1.6x NAV.
We’ve since realized a ~4x gain (vs 14% gain in BTC), and in my view, it’s probably not worth overstaying our welcome here in the short term. We would favor spot ETH exposu...