tl;dr
Bernstein analysts upgraded SharpLink Gaming (SBET) to 'Outperform' with a $24 price target, citing 75% upside potential. The recommendation follows Ethereum's growing appeal to institutional investors, with SharpLink positioned as a key player in the crypto ecosystem. Shares opened at $13.65 on Thu...
**Bernstein Upgrades SharpLink Gaming to Outperform, Targets $24 Amid Ethereum Growth Prospects**
Bernstein analysts have initiated coverage of SharpLink Gaming (SBET), a Nasdaq-listed digital asset firm, with an **outperform rating** and a **$24 price target**, citing **roughly 75% upside** from the stock’s current price. The recommendation comes as the market increasingly focuses on Ethereum’s potential to drive long-term value for institutional investors.
Shares of SharpLink opened modestly higher on Thursday, trading around **$13.65**, reflecting optimism around the firm’s strategic positioning in the crypto ecosystem. Bernstein highlighted SharpLink as a **leading Ethereum treasury** with a significant stake in the asset, owning **0.7% of total ETH**. The firm positions SharpLink as a compliant, institutional vehicle for investors seeking exposure to ether’s yield and growth, leveraging its unique role in the blockchain space.
### Strategic Advantages and Market Outlook
According to analysts led by Gautam Chhugani, SharpLink benefits from its **strategic partnership with Consensys**, a major player in Ethereum infrastructure. The firm also anticipates a **shift toward lower interest rates**, which could amplify demand for ether staking yields, currently around **2.5%**. This dynamic, combined with Ethereum’s ongoing upgrades, positions SharpLink to capitalize on growing institutional interest in decentralized finance (DeFi) and staking opportunities.
Bernstein’s report projects **Ethereum-based assets** to surge from **$172 billion today to $5 trillion by 2035**, with ETH prices potentially surpassing **$15,000 by 2030**. The analysts argue that SharpLink’s unique structure—combining on-chain yield generation with strategic leverage—justifies a **15% premium** to its ether holdings, driven by its projected **3.4% annual yield**.
### Expansion Plans and Institutional Focus
Earlier this week, SharpLink announced plans to **deploy $200 million in ether** on Consensys’ Linea network over multiple years. The initiative will utilize **Anchorage custody** alongside platforms like **ether.fi** and **EigenCloud** to generate on-chain yield. This move underscores the company’s commitment to institutional-grade solutions, aligning with broader trends of traditional finance players entering the crypto space.
### Investor Implications
Bernstein’s bullish stance reflects confidence in SharpLink’s ability to navigate the evolving crypto landscape while leveraging Ethereum’s long-term growth potential. The $24 target implies a **significant valuation premium**, suggesting that the market is beginning to recognize the firm’s role as a bridge between traditional finance and decentralized assets.
For investors, SharpLink represents a compelling play on Ethereum’s institutional adoption and the broader shift toward tokenized yield generation. As the crypto market matures, firms like SharpLink may become critical intermediaries, bridging the gap between legacy systems and next-generation blockchain technologies.
With Ethereum’s roadmap and macroeconomic tailwinds supporting the case for ether’s value, SharpLink’s strategic positioning could position it as a key beneficiary of the sector’s next phase of growth.