Like other DATs, SBET is trading below its crypto holdings' value, which reduces buying pressure on ETH and is considered a major headwind for the asset.

Identified as a primary ETH DAT for investors to focus on because it is still accumulating ETH.

Suggested as a proxy play for investors looking for exposure to the cryptocurrency market, grouped with other crypto-related stocks benefiting from the current macro environment.

SBET bought 75,000 ETH this week, bringing its total holdings to nearly 740,000 ETH ($3.1 billion), contributing to massive buying pressure on Ethereum.

Faces reputational risk if it sells underlying assets like ETH too early, especially if the asset's price subsequently rises.