SharpLink taps Anchorage to put $400 million in ETH to work onchain

The Nasdaq-listed Ethereum treasury firm split the deployment between ether.fi and Lido while keeping assets in qualified custody SharpLink, the Nasdaq-listed company built around an Ethereum treasury, has moved $400 million worth of ETH onchain. It did so without letting the assets leave regulated custody. The custody partner is Anchorage Digital Bank. That arrangement is being framed as the first time a public company has deployed ETH onchain while keeping its holdings in a qualified custodian. SharpLink (Nasdaq: SBET) divided the deployment evenly across two of Ethereum’s best-known staking platforms. The first $200 million went through ether.fi, where SharpLink minted weETH. The second $200 million went through Lido, producing wstETH. Both positions remain custodied by Anchorage Digital Bank. Anchorage is the first federally chartered crypto bank in the US.

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