SharpLink Gaming Deploys $200 Million in Ethereum Through Lido Staking

SharpLink Gaming has announced plans to stake $200 million in Ethereum through Lido as part of its strategy to generate returns from its ETH treasury.

The allocation will be converted into wrapped staked ETH (wstETH), which represents staked Ethereum and the associated staking rewards. The wstETH will be held in custody with Anchorage Digital.

This move adds Lido to SharpLink's existing staking and restaking strategy, increasing the productivity of its Ethereum holdings. Lido is the largest liquid staking protocol on Ethereum, with roughly $16.5 billion in ETH staked on the platform.

SharpLink CEO Joseph Chalom said, 'This is an exciting expansion in making our ETH even more productive, leveraging wstETH’s composability while maintaining institutional-grade risk standards.'