SharpLink has deployed $400 million worth of ETH onchain without allowing the assets to leave Anchorage Digital Bank’s regulated custody. The company split the investment equally between ether.fi and Lido, holding $200 million in weETH and $200 million in wstETH, respectively. SharpLink says this is the first deployment by a public company of liquid restaking tokens held in qualified custody. With approximately 900,000 ETH, it ranks among the largest corporate crypto treasuries and has generated staking rewards totaling tens of millions of dollars. These positions nevertheless increase exposure to smart contract bugs, protocol failures and possible trading discounts in liquid tokens relative to the underlying ETH.
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