Sharplink Stakes $200M in Ether through Lido Protocol

Sharplink, Inc., a prominent corporate holder of Ether, has announced that it will stake $200 million of its ETH through Lido's liquid staking protocol. This move aims to increase the productivity of Sharplink's ETH treasury while maintaining institutional-grade risk standards.

The company will receive wrapped staked ETH (wstETH), a token representing staked ETH and its associated staking rewards, which will be held in custody with Anchorage Digital. Lido is already a significant player in the liquid staking market, accounting for approximately $16.5 billion of ETH staked through its protocol.

Sharplink's allocation expands its existing staking and restaking strategy, leveraging wstETH's composability while maintaining institutional-grade risk standards, according to Joseph Chalom, Chief Executive Officer of Sharplink. This approach allows for exposure to ETH plus access to additional on-chain yield.