Sharplink announced that it has staked $200 million worth of ETH via Lido, obtained wstETH, and placed the asset in custody with Anchorage Digital.

Second-largest Ethereum treasury firm Sharplink, Inc. (SBET) announced it will stake $200 million worth of ETH via Lido—Ethereum’s largest liquid staking protocol—receiving wstETH tokens representing the staked ETH and its earnings, which will be held in custody at Anchorage Digital. This move continues the company’s efforts this year to make its ETH treasury more productive for shareholders, adding Lido to its existing staking and restaking strategies. Lido currently holds the majority share of all liquid-staked ETH, with roughly $165 billion in ETH staked on its protocol. wstETH has been integrated into over 100 protocols, with around $100 billion actively used as collateral. wstETH allows holders to utilize the token in Ethereum’s DeFi ecosystem while the underlying ETH continues accruing staking rewards. Sharplink CEO Joseph Chalom stated: “This is an exciting expansion that makes our ETH more productive, leveraging wstETH’s composability while maintaining institutional-grade risk standards. Joining the Lido staking protocol deepens the diversification of our treasury strategy and grants us access to one of the most liquid and widely integrated assets in Ethereum’s DeFi space.”