SharpLink to Stake $200M in ETH via Lido; Anchorage Digital to Provide Custody

SharpLink (Nasdaq: SBET) said it will stake $200 million worth of Ethereum through Lido, the largest liquid staking protocol, receiving wrapped staked Ether (wstETH) in return. The company plans to place the wstETH with Anchorage Digital Bank for custody. Lido allows ETH holders to earn staking rewards while keeping a liquid tokenized position instead of locking assets in a traditional staking setup. When ETH is deposited, Lido issues wstETH, which represents the staked position and is designed to appreciate over time as staking rewards accrue. Lido currently oversees about $16.5 billion in staked ETH. Its wstETH is widely used as collateral across more than 100 DeFi protocols, contributing to strong liquidity and broad market acceptance. Anchorage Digital Bank, which will safeguard SharpLink's wstETH, is a federally chartered digital asset bank and among a small group of crypto-native firms holding an OCC banking charter. The move extends SharpLink's broader push to treat Ethereum as a core treasury asset. The company has previously partnered with Anchorage Digital, including a $200 million allocation tied to Linea Layer-2 deployment in 2025. By staking through Lido instead of operating its own validators, SharpLink avoids the technical buildout and ongoing maintenance required for direct validation. The approach carries protocol fees, but the liquid nature of wstETH preserves flexibility to exit the position or deploy the tokens elsewhere in DeFi. Direct staking typically involves withdrawal queues and reduced near-term liquidity.