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Galaxy Digital and Sharplink have entered into a non-binding agreement to launch a $125 million institutional DeFi yield fund, aimed at putting Sharplink’s ETH treasury to work. The companies said the capital will be deployed across onchain liquidity strategies and in support of early-stage protocols.
Under the agreement, Galaxy Digital will manage the fund and contribute $25 million, while Sharplink will allocate $100 million in commitments. Sharplink indicated that the initiative will be deployed with long-term alignment, leveraging onchain opportunities designed to generate risk-managed, ETH-denominated yield.
Sharplink’s Chief Investment Officer, Matthew Sheffield, said the company’s goal is to preserve its core staked Ethereum exposure while generating excess returns that accrue back to shareholders.
Galaxy Digital founder and CEO Mike Novogratz said institutional capital is increasingly moving onchain, and that the infrastructure has matured to the point where allocators can access yield, liquidity, and risk management with the rigor expected in traditional markets.
Sharplink reported a positive Q1 2026, reaching over 870,000 ETH in total holdings. The company described itself as the second-largest Ethereum digital asset treasury behind Bitmine Inmersion, which holds over 5 million ETH.
Sharplink also reported 16,436 ETH obtained in staking rewards. In its disclosures, it reported $12.1 million in total revenue and unrealized losses of more than $685 million attributed to market conditions.
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