Anchorage Digital has integrated with Puffer Finance to give institutional clients access to liquid Ethereum withdrawals through its storage platform.
According to Thursday’s announcement, institutions will be able to store Ether with Anchorage and receive the liquid Puffer token, pufETH, directly into their accounts. The token represents a restored position of ETH (ETH), which can be transferred or deposited through onchain support programs, while continuing to receive rewards and recurring rewards.
Institutions using the platform can participate in recovery without validators or managing the staking infrastructure.
The integration allows customers to access Puffer’s recovery protocol to keep assets under Anchorage’s custody and management, avoiding the need to transfer funds across multiple platforms.
Anchorage said the integration is part of a broader effort to expand institutional access to onchain services through its platform, including staking, replication, governance and settlement.
Anchorage Digital is a crypto storage company headquartered in San Francisco and operates the first cryptocurrency bank in the United States.
In January, it was reported that the company is seeking $200 million to $400 million in new funding as it explores a possible initial public offering next year.
related to: Sharplink reports $735 million in losses in 2025 as Ethereum plummets
Liquid returns are expanding throughout the Ethereum ecosystem
Restaking has emerged as a new layer of activity in proof-of-stake networks such as Ether, allowing already-staked tokens to be reused to provide additional decentralized services while generating additional rewards.
In liquid recovery systems, staked Ether is represented by a business token that can be reused by recovery protocols to help provide additional decentralized services.
Much of the recovery ecosystem is built around EigenLayer, a protocol launched by Eigen Labs that allows Ether, or liquid tokens, to provide additional onchain services outside of the Ethereum network.
Over the past few years, liquid recovery has become a multi-billion dollar sector within the Ethereum ecosystem. According to DefiLlama, protocols that offer fluid recovery have a total value of approximately $7.2 billion (TVL).
In this sector, ether.fi dominates TVL with around $5.6 billion, followed by Kelp DAO with around $1 billion and Renzo with around $217 million. Puffer Finance, a protocol integrated by Anchorage Digital, currently manages about $62 million in recovered Ether.
Ethereum treasury companies are also increasingly exploring these strategies to generate revenue from their Ether holdings. In October, SharpLink Gaming said it planned to deploy $200 million worth of Ether from its corporate fund via ether.fi and EigenCloud on Linea.
Magazine: What is “network mode” and are there any real-life examples? Big questions
