SharpLink announced that it has deployed 400 million USD worth of ETH to Ether.fi and Lido

The Nasdaq-listed company SharpLink (SBET) announced that it has cumulatively deployed $400 million in ETH to the liquidity staking protocols Ether.fi and Lido. The company stated that both funds have been actively invested, aiming to enhance the yield efficiency of its ETH treasury.

According to the plan announced in August, SharpLink intends to stake $200 million in ETH through Lido and obtain wstETH, with the related assets being custodied by Anchorage Digital. The other portion of the funds will be deployed through Ether.fi to the Linea network under Consensys, and jointly participate in re-staking with EigenCloud to obtain DeFi yields and incentives.

SharpLink is one of the largest enterprise-level ETH holders globally, advocating for Ethereum ecosystem applications for a long time. This deployment continues its existing staking and re-staking strategy, further allocating treasury assets to institutional-grade DeFi products.