SharpLink Will Stake $200M of Ethereum Through Lido's wstETH

In brief

• SharpLink will stake $200 million of Ether through Lido's liquid-staking protocol.
• The move is about 106,000 ETH, roughly 12% of the ~889,000 ETH SharpLink held as of early August.
• wstETH sits across more than 100 protocols with about $10 billion in active-use collateral, so SharpLink keeps earning yield while staying liquid.

Miami-based digital asset treasury company SharpLink said Thursday it will stake $200 million of Ethereum through Lido, the largest liquid-staking protocol on Ethereum.

The tokens arrive as wrapped staked ETH (wstETH)—a receipt token representing staked ETH plus its rewards—and Anchorage Digital will hold them in custody.

"This is an exciting expansion in making our ETH even more productive, leveraging wstETH's composability while maintaining institutional-grade risk standards," said Joseph Chalom, Chief Executive Officer of SharpLink in a press release. "Adding a staking protocol of Lido's caliber deepens the diversification of our treasury strategy and gives us access to one of the most liquid and widely integrated assets in Ethereum DeFi. It reflects our commitment to working with the top Ethereum protocols."

The wrapped staking token wstETH lets SharpLink earn staking yield while staying liquid and using the position across DeFi. The underlying ETH keeps accruing rewards, and the wrapper can be posted as collateral or traded without unstaking. Lido runs a majority of all liquid-staked ETH, with roughly $16.5 billion staked through the protocol, per the announcement.