Bernstein Sees 75% Upside for Ether Treasury Firm SharpLink, Initiates at Outperform

Bernstein Sees 75% Upside for Ether (ETH) Treasury Firm SharpLink, Initiates at Outperform

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The Wall Street broker said SharpLink is a compliant, institutional gateway to Ethereum, and gave the stock a $24 price target, offering 75% potential upside.

By Will Canny, AI Boost|Edited by Nikhilesh De

Oct 30, 2025, 2:14 p.m.

Bernstein initiated coverage of SharpLink Gaming with an outperform rating and a $24 price target.
The company is a leading Ethereum treasury, holding 0.7% of total ETH supply.
SharpLink is expected to benefit from institutional demand for ether yield in a lower-rate environment, the broker said.

Bernstein initiated coverage of Nasdaq-listed SharpLink Gaming (SBET) with an outperform rating and a $24 target, citing roughly 75% upside.

The shares were modestly higher in early trading on Thursday, around $13.65.

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The broker said SharpLink is a leading Ethereum treasury, that owns 0.7% of total ETH, and a compliant, institutional vehicle for exposure to ether’s yield and growth.

SharpLink is seen benefiting from its link to Consensys and a shift toward lower interest rates, which could boost demand for ether staking yields, currently around 2.5%, analysts led by Gautam Chhugani wrote in the report on Thursday.

The analysts expect Ethereum-based assets to grow from $172 billion today to $5 trillion by 2035, projecting ETH prices above $15,000 by 2030.

SharpLink, Bernstein said, deserves a 15% premium to its ether holdings, reflecting its 3.4% projected annual yield and strategic on-chain leverage.

Earlier this week, SharpLink said it plans to deploy $200 million in ether on Consensys’ Linea over multiple years, using Anchorage custody with ether.fi and EigenCloud to seek on-chain yield.

AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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