SharpLink Invests $200 Million in Ethereum via Lido Staking
SharpLink, a Nasdaq-listed company, has expanded its Ethereum treasury strategy by staking $200 million worth of ETH through Lido. This move allows SharpLink to maintain exposure to ETH staking rewards while retaining access to wstETH across decentralized finance applications.
The allocation adds Lido to SharpLink's existing staking and restaking strategy, which currently has roughly $16.5 billion worth of ETH staked through its protocol. The company will receive wrapped staked ETH, or wstETH, representing the staked ETH and its accumulated rewards.
According to SharpLink CEO Joseph Chalom, the allocation expands the company's efforts to make its ETH holdings more productive while maintaining institutional risk standards. The move is part of a broader effort to maximize the productivity of its Ethereum treasury for shareholders.