SharpLink Commits $200 Million ETH to Linea Layer-2 in Multi-Year Institutional Strategy
SharpLink Gaming, Inc. (NASDAQ: $SBET) announced on Tuesday that it plans to deploy US$200 million worth of Ether (CRYPTO: $ETH) from its corporate treasury onto the Linea blockchain, a zkEVM Layer-2 developed by ConsenSys. The deployment will take place over a multi-year period and will utilise institutional-grade staking and restaking infrastructure from ether.fi and EigenCloud.
The company said its ETH holdings are custodied at Anchorage Digital Bank and will now be optimised for yield through three primary streams: native staking rewards, restaking benefits via EigenCloud’s Autonomous Verifiable Services (AVSs), and incentive programs offered by Linea and ether.fi.
Joseph Chalom, Co-CEO of SharpLink, described the deployment as integral to the firm's treasury strategy, saying: “We are proud to be among the early institutional adopters of Linea’s infrastructure… enabling us to access Ethereum’s best staking, restaking and DeFi yields, while maintaining institutional safeguards.”
The collaboration also involves ConsenSys founder Joseph Lubin, who noted that Linea’s architecture is designed for institutional actors: “Through this collaboration, SharpLink’s ETH will earn enhanced native yield through Linea’s ecosystem partners, ether.fi and EigenCloud. It’s a model we believe other institutions will adopt.”
SharpLink reported earlier this month that its ETH holdings had risen substantially and its cash plus crypto reserves exceeded US$3.5 billion.
SharpLink Gaming, Inc. (NASDAQ: SBET) shares are trading at US$13.95, down 2.55 percent.