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ETH SharpLink expands its Ethereum treasury strategy with Lido configuration
Lido's size and institutional acceptance shaped the transaction
SharpLink will pledge US$200 million worth of Ethereum through Lido and receive wstETH in return. Anchorage Digital will act as custodian and be responsible for the custody of the wstETH positions pledged by SharpLink. Lido currently holds approximately US$16.5 billion in pledged Ethereum, making it the largest liquidity pledge agreement. wstETH has integrated more than 100 agreements, of which $10 billion has been used as active collateral.
As the second-largest corporate holder of Ethereum, SharpLink will pledge US$200 million worth of Ethereum through Lido, the largest liquidity pledge agreement on the network. The Nasdaq-listed company will receive wstETH, a token that represents the pledge of Ethereum and its cumulative rewards, with Anchorage Digital serving as custodian. The move expands SharpLink's existing strategy of retaining liquidity across decentralized financial applications and platforms while capturing additional revenue from its Ethereum treasury.
SharpLink expands its Ethereum treasury strategy with Lido configuration
SharpLink announced the US$200 million pledge configuration on August 13, 2026, describing it as part of a broader effort to allow the company's holdings of Ethereum to create higher benefits for shareholders. The company has been exploring ways to pledge and re-pledge this year, and the new Lido configuration adds a new level to this ongoing framework.
Through Lido's pledge, SharpLink gained exposure to Ethereum's native pledge rewards without having to relinquish capital use rights. In return for pledging Ethereum, the company will receive wstETH. The token tracks both the underlying asset and the rewards it has accumulated over time. Since wstETH can still be circulated on decentralized financial platforms, SharpLink can theoretically use the tokens for other scenarios while its Ethereum continues to earn pledge rewards.
SharpLink CEO Joseph Chalom explained the logic behind this configuration. "This is an exciting expansion that allows us to leverage the composability of wstETH to make our Ethereum generate higher benefits while maintaining institutional risk standards," he said. He added that the move "reflects our commitment to working with the top Ethereum protocol."
Anchorage Digital was selected as the custodian of pledged positions, providing a compliance framework for SharpLink to hold wstETH. This arrangement is consistent with SharpLink's consistent strategy of combining large-scale Ethereum configurations with enterprise-level infrastructure providers in treasury operations.
Lido's size and institutional acceptance shaped the transaction
Lido currently holds approximately US$16.5 billion in pledged Ethereum through its agreements, making it the current dominant liquidity pledge platform on Ethereum. Its wstETH tokens have been integrated into more than 100 independent protocols across the ecosystem. About $10 billion in wstETH is actively used as collateral or deployed in other on-chain applications.
Vasiliy Shapovalov, executive director of the Lido Labs Foundation, welcomed SharpLink's decision to expand the use of the Ethereum pledge protocol. He said: "Being optimistic about Ethereum means being optimistic about the main applications based on Ethereum." He linked his confidence in Ethereum with his confidence in its upper-level applications.
Kean Gilbert, head of institutional relations at Lido Institutional, describes the broader transformation that is taking place in the corporate treasury. "Treasury wants Ethereum to create value for it while maintaining liquidity, and Lido has become the standard for achieving this on a large scale," he said. He pointed out that SharpLink's configuration shows that holders of this size can pledge while "maintaining the flexibility required for their deployment strategy."
