SharpLink Deploys $200M Ethereum to Linea with EtherFi and EigenCloud
SharpLink Gaming, Inc. (Nasdaq: SBET), the world's second-largest corporate holder of Ethereum, plans to deploy $200 million in ETH to Linea, ConsenSys' zkEVM Layer 2 network.
- The strategy uses institutional-grade staking and restaking services from ether.fi and EigenCloud for enhanced DeFi yields.
- Eth assets are managed by Anchorage Digital Bank, ensuring compliance and setting new digital asset treasury standards.
Institutional Yield Strategy and Layer 2 Infrastructure
- The deployment combines native Ethereum staking rewards with incentives from EigenCloud’s Autonomous Verifiable Services and partner yields within Linea’s infrastructure.
- Linea offers lower fees, faster settlements, and composability with the Ethereum ecosystem.
- This move reinforces SharpLink's disciplined treasury management and supports Ethereum adoption.
Joseph Chalom, Co-CEO of SharpLink, highlighted the firm's commitment to responsible asset deployment and yield generation.
This mirrors ETHZilla's $100M restaking with Ether.fi and EigenCloud in September 2024, indicating a trend among Ethereum treasuries to enhance returns.
Market Reaction
- SharpLink Gaming trades under the ticker SBET on Nasdaq. The share price decreased by 0.80% with low trading volume following the announcement.
- The company’s position as a major Ethereum holder supports liquidity and confidence in digital capital markets.
