SharpLink Gaming said it deployed about $170 million worth of ether into a staking and restaking strategy on Linea, the Ethereum layer 2 network built by Consensys. The Nasdaq listed company, traded as SBET , framed the move as part of an Ethereum treasury program that aims to earn yield instead of holding idle ETH. The company described the deployment as an “enhanced yield” setup that blends Ethereum native staking rewards with additional incentives tied to Linea and partner protocols. Staking and Restaking Strategy on Linea SharpLink said the strategy combines standard Ethereum yield with restaking rewards linked to EigenCloud, alongside incentives connected to ether.fi and Linea. Coverage of the announcement said Anchorage Digital serves as the qualified custodian for the deployed assets, a structure designed for institutions that want regulated custody while using onchain yield tools. Linea’s official account also highlighted the SharpLink deployment as an example of institutions putting ETH to work on the network while keeping security and compliance requirements in focus. Why It Matters for Ethereum and Crypto Markets SharpLink’s move adds a large, disclosed pool of ETH to a layer 2 based yield strategy, which increases the amount of institutional capital that depends on Ethereum staking economics and related restaking infrastructure. The deployment also follows SharpLin k’s earlier plan to allocate up to $200 million of ETH through the same Linea centered approach, which the company and EigenCloud discussed in October. For the broader crypto market, the announcement signals that some public companies now treat ETH as a treasury asset that can generate returns through staking based strategies, not only as a balance sheet holding. Ether Holds Near $3,100 as Traders Watch $4,000 Meanwhile, Ether traded around $3,091 on the shared multi year chart, after sliding from a late 2025 peak near the $4,800 area. Price then stabilized inside a shaded band that sits roughly around the high $2,000s to low $3,000s, showing buyers defending that zone after the drop. Ether U.S. Dollar Multi Year Chart. Source: TradingView/X The chart also shows a clear higher low compared with the sharp selloff seen earlier in 2025, when ether briefly dipped much deeper before rebounding. As a result, the broader structure still leans toward higher swing lows, even though the latest move remains a pullback from the top. Trader Jelle said ether “is one of the better looking majors” and argued that lower time frames point to a potential push higher. He also flagged $4,000 as the key level to reclaim, since prior rallies stalled near that area and sellers have repeatedly defended it in past cycles.
