The position was previously 10.9% of the fund’s AUM as of the prior quarter.
According to a SEC filing dated February 2, 2026, Apeiron Capital Ltd sold all 1,354,400 shares of SharpLink Gaming (NASDAQ:SBET) during the fourth quarter. The estimated transaction value was $23.04 million, calculated using the average closing price for the period. The fund’s quarter-end position in SharpLink Gaming dropped to zero, with the reported stake’s value decreasing by $23.04 million.
Direction recap: The fund sold out its entire SharpLink Gaming holding; the position now represents zero of reported 13F assets under management.
Top holdings after the filing:
As of January 30, 2026, SharpLink Gaming shares were priced at $8.88, up 62.6% over the past year with a 48.3 percentage point alpha versus the S&P 500.
Apeiron Capital is undergoing broad liquidation, with a 59% reduction in 13F reportable assets this quarter.
SharpLink Gaming, Inc. leverages proprietary technology to connect sports fans and publishers with contextual sports betting and iGaming content, driving monetization through affiliate marketing and data services.
The company’s diversified platform supports both U.S. and international markets, spanning affiliate marketing, client services, and enterprise solutions. SharpLink’s focus on quality traffic generation and player conversion positions it competitively within the rapidly evolving online gambling and sports betting ecosystem.
Hong Kong-based Apeiron Capital selling its entire stake in SharpLink Gaming may have more to do with the investment firm’s internal objectives rather than a red flag about SharpLink. That’s because Apeiron Capital’s total assets under management underwent a dramatic reduction.
In the third quarter, Apeiron Capital held $210.4 million assets under management. By the end of 2025, the firm had an AUM of $86.5 million and just five holdings.
As for SharpLink Gaming, the company has completely transformed its business model. It may have begun as a sports gaming-related entity, but these days, it is focused on cryptocurrency. It calls itself “one of the world’s largest corporate holders of Ether.”
SharpLink now focuses on investing in Ethereum cryptocurrency. In the third quarter, revenue reached $10.8 million, up from $0.9 million in the previous year, thanks to the rise in value of Ether. At the end of Q3, its Ether holdings totaled 817,747.
SharpLink is a stock for those looking to invest Ethereum. Otherwise, the company is no longer truly a sports gaming organization. Consequently, investing in SharpLink is a high risk, high reward gambit that is only for those with a high risk tolerance.
When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor’s total average return is 942%* — a market-crushing outperformance compared to 196% for the S&P 500.
Robert Izquierdo has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Ethereum, On Holding, Summit Therapeutics, and Vertiv. The Motley Fool has a disclosure policy.
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