Galaxy and Sharplink Launch $125 Million Onchain Yield Fund Backed by Ethereum Treasury

Galaxy and Sharplink are launching a $125 million fund called the Galaxy Sharplink Onchain Yield Fund. The fund has secured $125 million in commitments and is expected to launch in the coming weeks as of May 11, 2026. Galaxy will serve as the fund’s exclusive manager.

Sharplink is contributing $100 million from its Ethereum treasury to the fund while Galaxy is contributing $25 million of its own capital. Galaxy is a New York-based crypto and data center company founded by Mike Novogratz. 5 billion.

Sharplink ranks as the second-largest Ethereum treasury company. 1 billion and is fully staked. fi and Liquid Collective. Sharplink launched in June 2025.

6 million in returns since its launch in June 2025. 79. Joseph Chalom is the CEO of Sharplink and the former head of BlackRock’s digital assets strategy.

“We’ve been very vocal that our job as an Ethereum treasury company is to make our ether productive first and, over time, to maximize that productivity,” Joseph Chalom said. The new fund arrives as DeFi reels from two major attacks in April 2026. On April 1, North Korean state-sponsored hackers drained $285 million from Drift Protocol.

On April 18, 2026, North Korean hackers exploited a vulnerability in Kelp DAO’s cross-chain bridge, draining $292 million worth of rsETH. Hackers deposited roughly $200 million of the stolen rsETH onto Aave. The Kelp DAO attack triggered a $9 billion rush out of Aave.

Chalom views the incidents as catalysts for higher standards rather than reasons to withdraw. “The really interesting thing is, out of any financial crisis, whether in traditional finance, DeFi or other sectors, you end up raising the standards for the next wave of entrants and the next deployments and allocations,” Joseph Chalom said.

“Those in DeFi who take the time to put security first will be the survivors, and we’re going to support and invest in those protocols.

Joseph Chalom added that the combination of Sharplink’s long-term Ethereum capital and Galaxy’s expertise in asset management and on-chain deployments creates a powerful partnership. @Forbes reported the details of the fund’s structure, the companies’ backgrounds, Sharplink’s performance metrics and the precise timeline and amounts involved in the April hacks.