Anchorage Digital has integrated with Puffer Finance to provide institutional clients with access to Ethereum liquidity replenishment via its depository platform.
According to Thursday announcementinstitutions can stake Ether stored in Anchorage and receive Puffer’s liquid re-staking token, pufETH, directly into their accounts. The token represents a re-stakeable position of ETH (ETH) that can be transferred or deployed to supported onchain applications while earning rewards for staking and re-staking.
Institutions using the platform can participate in retaking without having to run validators and manage the staking infrastructure themselves.
The integration allows customers to access Puffer’s asset re-sharing protocol while keeping assets within Anchorage’s custody and management, avoiding the need to transfer funds between multiple platforms.
Anchorage said the integration is part of a broader effort to expand institutional access to onchain services through its platform, including staking, re-staking, governance and settlement.
Anchorage Digital is a San Francisco-based cryptocurrency custody company that operates the first federally licensed cryptocurrency bank in the United States.
It was reported in January that the company would seek modern financing of between $200 million and $400 million as it explores a potential initial public offering next year.
Related: Sharplink reports a $735 million loss in 2025 as Ethereum declines
Silky replenishment is expanding across the Ethereum ecosystem
Re-staking has emerged as a modern layer of activity on proof-of-stake networks like Ether, allowing already staked tokens to be reused to secure additional decentralized services while generating additional rewards.
In seamless re-staking systems, staked Ether is represented by a tradable token that can be reused via re-staking protocols to aid secure additional decentralized services.
Much of the retaking ecosystem has developed around EigenLayer, a protocol launched by Eigen Labs that enables Ether or liquid staking tokens to be staked to secure additional onchain services outside of the Ethereum network.
Over the past few years, seamless replenishment has grown into a multi-billion dollar industry in the Ethereum ecosystem. According to data DefiLlama’s fluid replacement protocols collectively represent approximately $7.2 billion in total value locked (TVL).
Ether.fi dominates the sector with about $5.6 billion in TVL, followed by Kelp DAO with about $1 billion and Renzo with about $217 million. Puffer Finance, a protocol integrated by Anchorage Digital, currently manages approximately $62 million in re-stakeable Ether.
Ethereum treasury companies are also increasingly exploring these strategies to generate profits from their Ethereum holdings. In October, SharpLink Gaming said it plans to deploy $200 million worth of Ether from its corporate treasury as part of a staking and re-staking strategy via ether.fi and EigenCloud on Linea.
Warehouse: What is “network health” and are there real-life examples? Huge questions
