---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/32225107.md"
description: "Currently, quant funds are mindlessly long ETH and short SBET. Market makers entrusted with additional issuance are only hedging and lack the ability to manipulate the market. The management from the crypto space doesn't understand the stock market well and doesn't know how to play with market makers, indicating that SBET is also lagging behind BMNR in understanding additional issuance.The next thing to watch is whether the flywheel of "stock price rise - additional issuance - buying coins to promote stock price rise" can be activated. As SBET buys more and more ETH, if the stock price continues to fall or fails to rise, it means the premium narrative has collapsed, and it may just become a 1:1 ETH shadow stock.If there are enough likes, I will explain why being long ETH and short SBET / long BTC and short MSTR is the risk-free arbitrage that quant funds love the most."
datetime: "2025-07-25T04:24:05.000Z"
locales:
  - [en](https://longbridge.com/en/topics/32225107.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/32225107.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/32225107.md)
author: "[未明勇闯纳斯达克](https://longbridge.com/en/profiles/15030207.md)"
---

# Currently, quant funds are mindlessly long ETH and…


### Related Stocks

- [MSTR.US](https://longbridge.com/en/quote/MSTR.US.md)
- [SBET.US](https://longbridge.com/en/quote/SBET.US.md)
- [BMNR.US](https://longbridge.com/en/quote/BMNR.US.md)
- [ETHA.US](https://longbridge.com/en/quote/ETHA.US.md)
- [STRD.US](https://longbridge.com/en/quote/STRD.US.md)
- [STRF.US](https://longbridge.com/en/quote/STRF.US.md)
- [STRK.US](https://longbridge.com/en/quote/STRK.US.md)

## Comments (7)

- **lyhalfway · 2025-07-25T04:52:31.000Z · 👍 4**: I think it's simply incompetence, applying the crypto approach to the US stock market, which institutions don't recognize.
  - **丁真！寄** (2025-07-25T04:55:39.000Z): Institutions can't be trusted, and they're also afraid of getting trapped 😆
  - **未明勇闯纳斯达克** (2025-07-25T09:04:31.000Z): Especially when there are competitors
- **丁真！寄 · 2025-07-25T04:32:16.000Z · 👍 2**: SBET did not guarantee not to sell ETH 🌚 Wait for it to issue more and dump ETH to buy back shares 😇 Ascension plan
- **韩立的交易员 · 2025-07-25T04:28:25.000Z · 👍 2**: Followed, what the influencer said makes a lot of sense. Indeed, this wave of SBET's operation is undoubtedly pushing themselves into a pit of fire. I don't understand their move.
  - **未明勇闯纳斯达克** (2025-07-25T04:33:33.000Z): It could be pure incompetence, or there's a conspiracy theory saying it's a matched trade with ETH whales. Let's wait and see.