Sharplink said it will deploy $200 million worth of ETH into Lido, one of Ethereum's largest liquid staking protocols, to lift the yield potential of its treasury holdings. After staking, the company will receive wstETH (wrapped staked ETH), a token representing staked ETH and accrued rewards, while institutional digital asset custodian Anchorage Digital will hold the position. The company said the move expands its existing ETH staking and restaking strategy and gives it exposure to a widely used asset across Ethereum's DeFi (decentralized finance) ecosystem. Lido said about $16.5 billion of ETH is currently staked on the platform, with wstETH integrated by more than 100 protocols and roughly $10 billion used as DeFi collateral.