SharpLink plans $200M ETH stake through Lido

Nasdaq-listed SharpLink plans to stake $200 million of Ether through Lido and hold the resulting wrapped staked ETH with Anchorage Digital, expanding its strategy for generating returns from its corporate Ethereum treasury. Summary SharpLink plans to stake $200 million of ETH through Lido and receive wstETH in return. Anchorage Digital will custody wstETH, adding Lido to SharpLink’s existing institutional staking and restaking strategy. SharpLink held 888,938 ETH equivalents on August 3, according to its latest quarterly results filing. Lido reports roughly $16.5 billion of ETH staked and wstETH integrations across over 100 protocols. SharpLink shares rose 2.3% Thursday to $6.32, while ETH traded near $1,625 after-hours that day. The company announced the allocation on Aug. 13 but did not disclose a transaction hash or timetable showing that the full deployment had already been completed. The allocation comes days after SharpLink reported holding 888,938 ETH and ETH equivalents as of Aug. 3. Its latest quarterly filing shows staking has already become its main revenue source, producing $11.2 million of its $11.5 million in second-quarter revenue. SharpLink adds Lido without buying ...