SharpLink Gaming Stock Eyes Rebound as Bernstein Issues Outperformance Rating

SharpLink Gaming stock (SBET) is drawing attention after Bernstein began coverage on October 30, 2025, with an outperform rating and a $24 price target.

The firm stated that the stock could nearly double as lower interest rates increase demand for Ethereum-based investments.

Bernstein Predicts Strong Upside for SharpLink Gaming Stock

Market data show that SharpLink Gaming stock traded at $13.08 on Thursday, down 3.89% for the day.

Bernstein analysts, led by Gautam Chhugani, started coverage with a positive outlook and issued a $24 target, suggesting nearly 75% upside by the end of 2026.

SharpLink could benefit as borrowing costs decline and investors seek steady returns from Ethereum staking.

The report describes SharpLink as one of the main Ethereum treasury firms in the market.

Notably, the firm holds about 860,299 Ethereum, or 0.7% of the total supply, valued at around $3.6 billion.

Bernstein expects SharpLink to deliver a 3.4% annual yield over the next decade through staking, share buybacks, and growth in digital assets.

According to the analysts, SharpLink Gaming stock shares currently trade about 19% below their asset value.

The gap might close as the company continues to increase its Ethereum holdings and scale its operations.

Bernstein valued the stock at a 15% premium to its net asset value, reflecting confidence in its long-term plan.

The company’s close ties with Consensys also stand out. Consensys was founded by Ethereum co-founder Joseph Lubin, who serves as SharpLink’s Chairman.

SharpLink plans to invest $200 million worth of Ethereum into Linea, a Layer 2 network developed by Consensys.

Bernstein believes this move could help the firm earn more yield through blockchain programs and staking.

A Treasury Model Built on Ethereum

Bernstein compared SharpLink’s business to that of Strategy, a company known for managing Bitcoin reserves.

Both aim to expand their digital asset holdings to enhance shareholder value.

However, SharpLink focuses on Ethereum, which allows it to earn rewards directly from staking.

Ethereum’s built-in yield system offers an advantage that Bitcoin lacks. This enables SharpLink to generate income while holding its digital assets in the long term.

The analysts said this model could appeal to institutions that want exposure to blockchain earnings without running direct operations on the network.

SharpLink Gaming stock’s market performance has been volatile. The stock’s range this year has been wide, from $2.26 to $124.12.

Despite falling 83% from its summer high, it remains up 71% since the start of 2025.

The company’s market value is around $2.57 billion, with an average daily trading volume of 15.33 million shares.

Bernstein said lower interest rates could help SharpLink attract more investors. As borrowing becomes cheaper, more institutions might look to digital assets for better returns.

Ethereum Outlook Supports SharpLink’s Future

It is worth noting that Bernstein’s report also provided a long-term perspective on Ethereum.

The analysts expect the cryptocurrency’s price to rise from below $4,000 today to $15,000 by 2030 and $25,000 by 2035.

The firm projects the total value of tokenized assets on Ethereum to grow from $172 billion to $5 trillion by 2035.

This forecast provides additional support for SharpLink’s business plan. The company’s earnings depend on Ethereum’s value and its ability to earn yield from staking and blockchain projects.

More importantly, as Ethereum expands, SharpLink’s treasury could also grow, improving its financial base and market position.

Bernstein said SharpLink Gaming stock is well placed to benefit from that growth because of its links to Consensys and its focus on staking returns.

The analysts see the firm as a potential leader among Ethereum-focused treasury companies.

SharpLink Gaming’s stock performance in the coming months will depend on how the cryptocurrency market moves and how global interest rates change.

Bernstein’s new coverage suggests investors are paying closer attention to the company’s role in the growing Ethereum economy.