A Nasdaq-listed company plans to move $200M of ETH onto an Ethereum L2 Blockchain (Linea) and restake it through etherfi / EigenLayer infrastructure. This is a shift from “holding ETH as an asset” to “treating ETH as productive security collateral”

SharpLink Gaming (Nasdaq: SBET) announced plans to allocate roughly $200 million of its ETH treasury onto Linea, an Ethereum L2 blockchain developed by Consensys. The ETH will be staked and restaked through etherfi and EigenLayer-based infrastructure such as EigenCloud, with Anchorage Digital providing regulated custody.

This marks a shift from passive holding to active participation in Ethereum’s security economy. Instead of letting ETH sit on the balance sheet, SharpLink is locking it into validator and restaking contracts—earning yield while contributing to network security.

Restaking, in this context, allows the same ETH collateral that secures Ethereum to also secure external protocols. These can include oracle networks, data-availability layers, or systems like "verifiable AI" that rely on cryptographic guarantees. In effect, ETH becomes programmable collateral: similar to gold, but capable of being configured to act as security capital for any protocol, to underwrite its digital infrastructure.

Routing the deployment through Linea highlights how Ethereum’s scaling stack is maturing, and is no longer just a developer sandbox. Corporate treasuries can now interact with Ethereum's cryptoeconomic protocols.

The broader significance is structural: if more institutions treat ETH as productive security collateral, Ethereum evolves from a transaction platform into a base layer of economic trust whose security can be rented by other protocols. SharpLink’s move is very promising for that reason.