SharpLink plans to deploy $200 million of its existing Ethereum treasury through Lido, converting about 106,000 ETH, or roughly 12% of the 888,938 ETH it said it held as of Aug. 3, 2026, into wstETH to be custodied by Anchorage Digital. The move expands a strategy that already includes native staking, liquid staking and restaking, and lets the company keep earning staking yield while holding a liquid token that can be used across DeFi. SharpLink's earlier disclosures referred to its balance as ETH and ETH equivalents, while the latest release described it as ETH. Lido says roughly $16.5 billion of ETH is staked through its protocol and that wstETH is integrated across more than 100 protocols with about $10 billion in active-use collateral. The allocation comes as Ether treasury companies grow more aggressive: Standard Chartered said last year such firms bought 1% of all ETH in two months, and Tom Lee's Bitmine now holds about $11 billion of Ethereum with plans to eventually control at least 5% of supply. SharpLink previously allocated $200 million to Linea restaking programs and $100 million to a Galaxy-managed onchain yield fund, while second-quarter results showed staking generated $11.2 million of its $11.5 million in revenue and liquid staking token impairments contributed to a $394.3 million net loss.