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

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.

SharpLink is one of the world’s largest corporate Ethereum holders, and staking has been the through-line of its 2026 strategy. The firm grew its stack past 880,000 $ETH, worth roughly $1.68 billion, earlier this year. The Lido leg adds to an existing staking and restaking book rather than replacing it.

“I’m excited to see SharpLink increasing the use of Ethereum native staking protocols and the DeFi ecosystem. Being bullish $ETH is being bullish on major Ethereum-based applications,” said Vasiliy Shapovalov, Executive Director, Lido Labs Foundation.

The pitch to other treasuries is yield without idle capital. “We are seeing a clear shift in how institutions hold Ethereum, and SharpLink’s allocation is a strong example,” said Kean Gilbert, Head of Institutional Relations, Lido Institutional. “Treasuries want their $ETH working for them without losing liquidity, and Lido has become the standard for doing it at scale. With wstETH, a holder of SharpLink’s size can stake while keeping the flexibility its deployment strategy demands.”

The move lands as $ETH treasury firms crowd the market. Last year, Standard Chartered reported that treasury companies bought 1% of all $ETH in two months and could push that to 10%, a bid that lifts spot demand for the very asset SharpLink is now putting to work. Tom Lee’s Bitmine, the largest Ethereum corporate treasury, holds about $11 billion worth of Ethereum with plans to eventually control at least 5% of $ETH’s total supply.

SharpLink held 888,938 $ETH as of August 3, 2026, per its second-quarter disclosure—so the Lido allocation is about 12% of the pile.