SharpLink Stakes $200 Million in Ethereum via Lido, Taps Anchorage Custody
Nasdaq-listed treasury company SharpLink has announced that it will stake $200 million of Ethereum through Lido, the largest liquid staking protocol on the network. The move expands SharpLink's strategy of generating returns from its corporate Ethereum holdings rather than leaving them idle.
The allocation represents roughly 106,000 ETH, about 12% of the 888,938 ETH and ETH equivalents SharpLink reported holding as of August 3 in its latest quarterly filing. SharpLink will receive wrapped staked ETH (wstETH) in exchange for its staked ETH and hold it with Anchorage Digital.
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.'