Sharplink expands ETH treasury strategy, investing 200 million USD in ETH staking with Lido

According to GlobeNewswire, Sharplink (Nasdaq: SBET), an Ethereum treasury company, announced that it will stake $200 million worth of ETH through Lido, the largest liquid staking protocol on Ethereum, to enhance the yield capability of the company's ETH assets. Sharplink stated that after this staking, the company will receive wrapped staked ETH (wstETH) representing the staked ETH and its yields, which will be custodied by institutional-grade digital asset custodian Anchorage Digital.

This configuration will further expand Sharplink's existing ETH staking and restaking strategies. Lido is currently one of the largest liquid staking protocols on Ethereum, with approximately $16.5 billion staked on the platform. Its wstETH token has been integrated by over 100 protocols, with about $10 billion used as collateral in DeFi. While users hold wstETH, the underlying ETH continues to earn staking rewards and can be used within the Ethereum DeFi ecosystem.

Sharplink CEO Joseph Chalom stated that the introduction of Lido will further enhance the production efficiency of the company's ETH assets, leveraging the composability of wstETH while maintaining institutional-grade risk management standards. This collaboration will diversify the company's treasury strategy and connect to one of the most liquid and widely used assets in the Ethereum DeFi ecosystem. Vasiliy Shapovalov, Executive Director of Lido Labs Foundation, stated that Sharplink's increased use of Ethereum's native staking protocol and DeFi ecosystem reflects support for the Ethereum application ecosystem.