How are the friends doing who were actively increasing their positions in tokenized shares of DAT companies in 2025?

MSTR (Strategy Inc), SBET (SharpLink Gaming), GNLN (Greenlane Holdings) and other companies, DAT (Digital Assets), have issued tokenized stocks, which in 2025 became one of the most discussed topics.

Looking back at the summer of 2025, Bitcoin (BTC) reached $120,000, and Ethereum (ETH) also broke through the $4,000 mark (Ether supporters, rise up!). Strategy Inc, which made huge bets on buying Bitcoin, also saw its shareholder value rise, attracting significant attention.

On May 22, shares of SharpLink Gaming (SBET), which was actively buying Ethereum, began to soar. In just one week, SBET skyrocketed from $2.7 to $124, an increase of 4,600%!

If you had invested just 1,000 USDT, in a week it would have become 46,000 USDT!

FOMO emotions (fear of missing out) quickly swept across the market. In groups, Twitter, and Telegram, discussions about tokenized stocks were boiling over. Everyone was convinced that the combination of tokenized stocks and cryptocurrencies would be the key to wealth in the crypto industry in 2025, and everyone kept buying new tokenized stocks.

But what happened next?

MSTR (Strategy Inc) stock trends in 2025

Strategy Inc, which had announced plans to buy $1 trillion worth of Bitcoin, saw its MSTR stock drop from a peak of $457 in June 2025 to the current $178, a 60% decline. Due to its massive Bitcoin reserves, Strategy became the focus of the crypto community, and everyone began to worry that, under financial pressure, the company would start cutting back on its BTC purchases. However, the founder of Strategy has already stated that the company will not sell any Bitcoin for at least the next few years.

According to Bloomberg, shares of crypto trusts (DAT) on US and Canadian exchanges have dropped significantly this year—an average decline of 43%, with some companies seeing drops of more than 99%. For example, shares of SharpLink Gaming (SBET), which we just discussed, fell from a peak of $124 to the current $10.7, a decrease of 91%.

SBET (SharpLink Gaming) stock trends in 2025

The main digital asset of SBET is Ethereum, but Ethereum itself has only fallen 37% from its peak.

Conclusion: Investors who bet on tokenized stocks and specific crypto assets suffered losses

Investors who hoped for high returns from tokenized stocks and certain crypto assets not only failed to make huge profits, but also suffered significant losses.

The concept of tokenized stocks did give the crypto industry a new opportunity for development, but in terms of results, tokenized stocks have come to resemble leveraged derivatives of a specific cryptocurrency (such as BTC). Rising or falling crypto prices lead to even more volatile movements in the stocks tied to these assets.

It is also worth noting that the market capitalization of some tokenized stocks has already fallen below the value of their cryptocurrency reserves. However, I do not recommend “bottom fishing,” because if cryptocurrencies continue to fall, the decline in these stocks will continue as well.

If you don’t know what tokenized stocks are or how to trade them, my advice is: don’t waste your time

If you still don’t know what tokenized stocks are or how to participate in their trading, my advice is—just don’t waste your time. If you believe in the rise of the crypto market, simply buy BTC, ETH, or other major cryptocurrencies. If you are bearish, it’s better to liquidate your positions or open short positions through contracts.

From the perspective of the average investor, tokenized stocks have already lost their edge in delivering super-profitable returns. It’s simply a way for people who aren’t directly involved in the crypto market to invest in crypto assets.