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staking

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Sharplink expands ETH treasury strategy, investing 200 million USD in ETH staking with Lido

According to GlobeNewswire, Sharplink (Nasdaq: SBET), an Ethereum treasury company, announced that it will stake $200 million worth of ETH through Lido, the largest liquid staking protocol on Ethereum, to enhance the yield capability of the company's ETH assets. Sharplink stated that after this staking, the company will receive wrapped staked ETH (wstETH) representing the staked ETH and its yields, which will be custodied by institutional-grade digital asset custodian Anchorage Digital.This configuration will further expand Sharplink's existing ETH staking and restaking strategies. Lido is currently one of the largest liquid staking protocols on Ethereum, with approximately $16.5 billion staked on the platform. Its wstETH token has been integrated by over 100 protocols, with about $10 billion used as collateral in DeFi. While users hold wstETH, the underlying ETH continues to earn staking rewards and can be used within the Ethereum DeFi ecosystem.Sharplink CEO Joseph Chalom stated that the introduction of Lido will further enhance the production efficiency of the company's ETH assets, leveraging the composability of wstETH while maintaining institutional-grade risk management standards. This collaboration will diversify the company's treasury strategy and connect to one of the most liquid and widely used assets in the Ethereum DeFi ecosystem. Vasiliy Shapovalov, Executive Director of Lido Labs Foundation, stated that Sharplink's increased use of Ethereum's native staking protocol and DeFi ecosystem reflects support for the Ethereum application ecosystem.

first_img Arkham: Bitmine ETH holdings are approaching the 5% target, and after reaching the target, it is most likely to slow down buying rather than stop

According to Arkham Research, Bitmine, the world's largest Ethereum treasury company, currently holds approximately 5.81 million ETH, valued at nearly $11 billion. After 14 months of continuous accumulation, its holdings have reached 4.8% of the ETH supply, achieving about 96% of its publicly set acquisition target of 5%. Unlike Bitcoin treasury companies such as Strategy, Bitmine has used over 5 million ETH for staking to earn interest, with an annualized staking income estimated at approximately $257 million based on a yield of about 2.63%.According to Arkham's analysis, the most likely scenario for the trajectory after reaching the 5% target is that Bitmine will slow down its purchases. On-chain data shows that its acquisition pace has already slowed this year, and after surpassing 5%, it may shift towards balance sheet management and maximizing staking returns. The second most likely scenario is to continue buying at the same pace. Considering that Tom Lee, co-founder of Fundstrat, who leads this strategy, has consistently been bullish, it is possible that they will continue to increase their holdings after breaking through 5%. The least likely scenario is to completely stop buying. If this largest enterprise-level ETH buyer in the market exits the demand side, it may temporarily weaken bullish sentiment, but even without new additions, its staking holdings will still grow passively through network rewards.
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