SharpLink said Thursday it will stake $200 million of Ethereum through Lido, the largest liquid staking protocol on Ethereum.
The position will be received as wrapped staked ETH, or wstETH, a token that represents staked ETH and the rewards attached to it. Anchorage Digital will hold the assets in custody.
In a press release, SharpLink Chief Executive Officer Joseph Chalom said: 「This is an exciting expansion in making our ETH even more productive, leveraging wstETH's composability while maintaining institutional-grade risk standards. 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.」
wstETH gives SharpLink yield while keeping the position liquid
wstETH allows SharpLink to earn staking yield without giving up flexibility. The underlying ETH continues to accrue rewards, while the wrapped token can be traded or posted as collateral without requiring the company to unstake first.
According to the announcement, Lido accounts for the majority of all liquid-staked ETH, with roughly $16.5 billion staked through the protocol.
The allocation adds to SharpLink’s existing staking and restaking book
SharpLink is one of the world’s largest corporate Ethereum holders, and staking has been central to its 2026 strategy. Earlier this year, the company increased its holdings to more than 880,000 ETH, worth roughly $1.68 billion at the time.
The Lido allocation does not replace existing positions. SharpLink said it adds to its current staking and restaking exposure.
Vasiliy Shapovalov, Executive Director of Lido Labs Foundation, said: 「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.」
Ethereum treasury firms continue to build and deploy holdings
Kean Gilbert, Head of Institutional Relations at Lido Institutional, said institutions are changing how they hold Ethereum. He said SharpLink’s allocation shows that treasury managers want their ETH generating yield without sitting idle, while still keeping liquidity. He added that Lido has become the standard way to do that at scale, and that wstETH gives a holder of SharpLink’s size the flexibility its deployment strategy requires.
The move comes as Ethereum treasury firms crowd into the market. Last year, Standard Chartered reported that treasury companies bought 1% of all ETH in two months and could push that share to 10%. The report said such buying supports spot demand for the same asset SharpLink is now putting to work.
Bitmine, led by Tom Lee and described as the largest Ethereum corporate treasury, holds about $11 billion worth of Ethereum and plans to eventually control at least 5% of ETH’s total supply.
SharpLink held 888,938 ETH as of August 3, 2026, according to its second-quarter disclosure. Based on that figure, the new Lido allocation amounts to about 12% of the company’s Ethereum holdings.