SharpLink Gaming, with more than $3.6 billion in Ethereum assets, plans to begin staking part of its ETH on the newly launched Linea Layer-2 network.
ETH Staking on Linea
SharpLink Gaming is currently staking nearly all its ETH through custodians Anchorage and Coinbase, according to co-CEO Joseph Chalom. However, the company aims to explore new staking opportunities as it matures. 'When you hold billions of dollars of ETH and you're looking at a portfolio of staking, there is going to be an ability to deploy that through staking opportunities on Linea,' Chalom stated.
Supporting Ethereum-Aligned Projects
SharpLink has been utilizing both native staking and liquid staking tokens. Chalom emphasized the importance of supporting 'Ethereum-aligned' projects like Linea to enhance real-world activity. He believes this approach will ultimately drive up Ethereum’s price, benefiting SharpLink as one of the largest ETH holders.
Expanding ETH Holdings Strategy
From August 25 to 31, SharpLink acquired 39,008 ETH at an average price of $4,531, partly funded by $46.6 million raised through its ATM facility. These acquisitions increased the firm's total holdings to 837,230 ETH, valued at over $3.6 billion. 'SharpLink continues to execute our treasury strategy with precision,' Chalom highlighted, stressing the company's focus on growth and shareholder value.
SharpLink's plan to stake on Linea indicates growing institutional confidence in Layer-2 solutions, potentially accelerating Ethereum’s adoption and increasing its long-term value.
