Sharplink will contribute $100 million in staked Ether to a Galaxy-managed fund as institutions seek to earn yield from crypto holdings without selling ETH.
Digital asset company Galaxy and Ethereum treasury platform Sharplink will launch a private fund that will invest Ether in decentralized finance (DeFi) strategies, signaling growing institutional interest in earning onchain yield from crypto holdings.
The proposed fund, called the Galaxy Sharplink Onchain Yield Fund, is expected to launch in the coming weeks with $125 million in initial commitments, the companies said Monday.
Sharplink plans to contribute $100 million from its staked Ether (ETH) treasury, while Galaxy will commit $25 million and serve as the fundโs manager.
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