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SharpLink to stake $200 million of ETH via Lido for wstETH

The planned $200 million allocation is expected to represent about 106,000 ETH, roughly 12% of SharpLink’s 888,938 ETH holdings reported as of Aug. 3.

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SharpLink plans to allocate $200 million of its ETH to staking through Lido, receiving Lido’s wstETH token for custody with Anchorage Digital, according to The Defiant. The company pegged the dollar amount using Kraken’s displayed ETH price of $1,889.84, which the outlet says equates to about 106,000 ETH.

The Defiant reports that the $200 million plan would bring the Lido route as an addition to SharpLink’s existing staking and restaking treasury strategy. The firm said substantially all of its ETH was deployed in staking as of June 28, split across native ETH, Liquid Collective’s LsETH, and Ether.fi’s weETH, with Lido positioned as another liquid-staking path.

For SharpLink shareholders, wstETH is described as a widely used DeFi asset that continues to reflect Ethereum staking rewards while it is used onchain. The company said Lido’s open-source liquid-staking middleware underpins wstETH, and SharpLink Chief Executive Joseph Chalom pointed to the “composability” of wstETH to add yield sources on top of existing staking exposure.

The Defiant also notes that Lido’s TVL stood at about $17.9 billion when data was read, with the tracked supply APY at 2.2% for Lido staking returns. The planned addition comes after a quarter in which staking supplied nearly all of SharpLink’s revenue, while its existing liquid staking and restaking tokens contributed a large accounting charge, including $11.2 million of staking revenue and a $76.1 million impairment on LsETH and weETH reported for the second quarter.

Latest closeEthereum $1,879.03 ▲0.1%

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