SharpLink Stakes $200M in Lido, Expands ETH Treasury Strategy

SharpLink, the second-largest corporate holder of Ethereum (ETH), is expanding its strategy to generate additional yield from its ETH treasury by staking $200 million worth of ETH through Lido, the largest liquid staking protocol on Ethereum. The Nasdaq-listed company will receive wstETH, a token representing the staked ETH and its accumulated rewards, with Anchorage Digital serving as custodian.

The move is part of SharpLink's ongoing effort to make its Ethereum holdings more productive for shareholders. By staking through Lido, SharpLink gains exposure to Ethereum's native staking rewards without giving up access to its capital. The company can theoretically deploy the wstETH elsewhere while its ETH continues earning staking rewards in the background.

Vasiliy Shapovalov, Executive Director of the Lido Labs Foundation, welcomed SharpLink's decision, stating that 'being bullish on ETH is being bullish on major Ethereum-based applications.' Kean Gilbert, Head of Institutional Relations at Lido Institutional, noted that corporate treasuries want their ETH to work for them without losing liquidity, and Lido has become the standard for doing it at scale.

The arrangement is consistent with SharpLink's broader approach of pairing large ETH allocations with institutional-grade infrastructure providers across its treasury operations. Anchorage Digital was selected to custody the staked position, giving SharpLink a regulated framework for holding its wstETH.