Galaxy Digital and Sharplink say they plan to launch the Galaxy Sharplink Onchain Yield Fund, a proposed $125 million vehicle that would put part of Sharplink’s staked ether treasury into DeFi strategies while keeping its main ETH position intact.

What was announced

According to the companies’ joint press release, the planned fund would receive $100 million from Sharplink and $25 million from Galaxy, with Galaxy serving as investment manager. The structure is still preliminary: the deal is based on a non-binding memorandum of understanding, and the companies said launch is expected in the coming weeks, subject to definitive documentation.

Sharplink’s separate first-quarter results add context on scale. The company said it held 872,984 ETH as of May 4 and had generated 18,800 ETH in staking rewards since starting its treasury strategy in June 2025. It also said the new fund is intended to deploy capital across DeFi liquidity protocols and other onchain yield strategies.

Why it matters

Public-company crypto treasury stories have mostly focused on buying, staking, and holding. This proposal goes a step further by explicitly routing a slice of treasury capital into active DeFi positions through an outside manager with institutional risk controls.

The conservative read is that nothing has launched yet, and the companies have not disclosed which protocols the fund will use. But if the vehicle closes as described, it would be another sign that listed companies are testing DeFi not just as infrastructure to watch, but as a treasury tool they are willing to use.