SharpLink to stake $200M in ETH through Lido

SharpLink, one of the corporate holders of Ethereum, will stake $200 million worth of ETH in Lido, the largest liquid staking protocol on Ethereum. In return, the Nasdaq-listed company, trading under SBET, will receive wstETH, a token that reflects staking rewards, with the asset to be held in custody by institutional custodian Anchorage Digital. The move is intended to help SharpLink maintain its ETH exposure while generating additional on-chain yield and further diversifying its treasury. CEO Joseph Chalom described it as a step to diversify the company’s ETH assets more productively while maintaining institutional-grade risk standards. Kean Gilbert, head of Lido Institutional, added that the move represents a standard model for large institutions seeking to maximize ETH yield without giving up liquidity.