Overview
- Bernstein initiated coverage of SharpLink Gaming with an outperform rating and a $24 price target, implying roughly 75%–80% upside from recent prices near $13.
- Analysts describe SharpLink as a compliant institutional gateway to Ethereum and a leading ether treasury, with holdings cited at roughly 0.7% of circulating ETH.
- SharpLink recently outlined a staged plan to deploy $200 million of ether onto Consensys’ Linea over multiple years using Anchorage custody with ether.fi and EigenCloud to capture on-chain and restaking yield.
- The report argues SharpLink warrants a 15% premium to its ether holdings, reflecting a projected annual yield around 3.4% from staking and related strategies.
- Bernstein points to management ties to the Ethereum ecosystem, including Chairman Joseph Lubin, plus a potential lower-rate environment that could boost demand for ether staking yields.