coindesk.com
SharpLink Gaming (SBET) said it has deployed $170 million worth of ether ETH$3,090.30 into a yield strategy on Consensys’ Linea, moving from planning into execution for a multi-year treasury program first outlined late last year.
The strategy combines native Ethereum staking yield with restaking rewards through provider EigenCloud and incentives from Linea and ether.fi, all under a qualified custodian structure through Anchorage Digital, SharpLink said in a post on X on Thursday.
The deployment follows SharpLink’s earlier disclosure that it intended to allocate up to $200 million of ETH to Linea over multiple years, CoinDesk reported in October.
The firm framed the setup as an institutional version of a trade that has become popular across crypto-native markets: stacking multiple yield streams on top of ETH while keeping operational controls tight.
Consensys-backed Line is a zero-knowledge Ethereum Virtual Machine (zkEVM) a type of platform that enables faster transaction speeds at lower costs by bundling them together to then verify in bulk on the main network.
Linea has positioned itself as a venue for on-chain capital deployment that still inherits Ethereum settlement and security, with lower fees and faster execution than mainnet.
SharpLink said the combination creates what it calls an “enhanced yield” profile, aimed at making its ETH holdings “more productive” without moving into a pure decentralized finance (DeFi) custody model.
The announcement adds to a broader shift in how publicly traded crypto-linked firms are pitching themselves: less as directional token exposure and more as yield-and-infrastructure vehicles that can offer institutional investors a compliant wrapper around onchain returns.
SharpLink shares have drawn attention in recent months after Bernstein initiated coverage with an outperform rating, calling it an institutional gateway to Ethereum.