SharpLink says 400 million USD in ETH has been deployed to Ether.fi and Lido
October 20 (UTC+8), Nasdaq-listed company SharpLink (SBET) announced that it has cumulatively deployed $400 million in ETH to two liquid staking protocols, Ether.fi and Lido. The company stated that both funds have been actively allocated, aiming to enhance the yield efficiency of its ETH treasury. According to a previously announced plan in August, SharpLink intends to stake $200 million in ETH via Lido to obtain wstETH, with the relevant assets being custodied by Anchorage Digital. The other portion of funds will be deployed through Ether.fi to Consensys' Linea network, jointly participating in restaking with EigenCloud to generate DeFi yields and incentives. SharpLink is one of the world's largest institutional ETH holders, long advocating for Ethereum ecosystem applications. This deployment continues its established staking and restaking strategy, further allocating treasury assets to institutional-grade DeFi products. (Source: ChainCatcher)
Nasdaq-listed SharpLink has deployed $400M in ETH into Ether.fi and Lido for staking and restaking, showing it is actively using treasury assets rather than selling. This increases on-chain staking demand, reduces near-term supply overhang, and reinforces institutional commitment to Ethereum yield strategies; ETH is short-term bullish (medium).