BlockBeats News, August 13th, Sharplink, Inc., the second-largest Ethereum treasury company, announced that it will stake $200 million worth of ETH through the Ethereum's largest liquidity staking protocol, Lido, and receive wstETH tokens representing the staked ETH and its rewards, custodied by Anchorage Digital. This allocation continues this year's effort to make the ETH treasury most productive for shareholders and incorporates Lido into its existing staking and restaking strategy. Lido currently holds the majority share of all liquid staked ETH, with approximately $16.5 billion staked in the protocol. wstETH has been integrated into over 100 protocols, with around $10 billion actively used as collateral. wstETH allows holders to use the token in Ethereum DeFi, while the underlying ETH continues to earn staking rewards.

Joseph Chalom, CEO of Sharplink, stated, "This is an exciting expansion to make our ETH more productive, leveraging the composability of wstETH while maintaining institutional-grade risk standards. Joining the Lido staking protocol deepens the treasury's diversification strategy and exposes us to one of the most liquid and widely integrated assets in Ethereum DeFi."