SharpLink plans to stake $200 million of ETH through Lido, receiving wstETH that will be held with Anchorage Digital. Using Kraken’s displayed ETH price of $1,889.84, the dollar allocation equates to about 106,000 ETH, roughly 12% of the company’s 888,938 ETH holdings reported as of Aug. 3.
The change is the addition of another liquid-staking route to SharpLink’s treasury. The company said substantially all of its ETH was deployed in staking as of June 28, split among native ETH, Liquid Collective’s LsETH and Ether.fi’s weETH, and it described Lido as an addition to that existing staking and restaking strategy.
For SharpLink shareholders, wstETH adds a widely used DeFi asset that continues reflecting Ethereum staking rewards while it is used in onchain applications. The disclosed route is Lido’s open-source liquid-staking middleware and its wstETH token, with Anchorage providing custody.
SharpLink Chief Executive Joseph Chalom said Lido’s composability would allow the company to “layer additional yield sources on top of our ETH exposure and staking returns.” Holding wstETH reflects Lido staking rewards; any separate DeFi return would require using the token in another onchain strategy.
