$ETH Treasury Play #SharpLink Eyes $50 Target, 200% Gain


Citizens JMP Securities has set a $50 price target for SharpLink Gaming, suggesting potential gains exceeding 200% from current levels. The Minneapolis-based firm received a market outperform rating from the bank in its initial coverage report released Wednesday.


The #treasury company holds approximately 839,000 $ETH tokens on its balance sheet following a strategic pivot from online gaming in June. SharpLink shares traded around $15.45 in early trading, gaining 2% after the analyst report.


Citizens projects $ETH could surpass $7,000 by 2026 and potentially exceed $20,000 by 2030. The bank's analysts view this bullish Ethereum price trajectory as a key driver behind their positive outlook on SharpLink's stock performance.


SharpLink closed a $76.5 million equity offering on Thursday, selling 4.5 million shares at $17 each. The pricing represented a 12% premium to the previous day's closing price of $15.15, with investors also receiving a 90-day option to purchase an additional 4.5 million shares at $17.50.


The company operates differently from passive #cryptocurrency holding vehicles by actively managing its $ETH balance sheet. SharpLink deploys assets into staking and yield-bearing strategies designed to compound value, while issuing equity at premiums to net asset value or buying back shares when trading below NAV.


Leadership comprises Joseph Lubin, an #Ethereum co-founder serving as Chairman, and Joseph Chalom, a former BlackRock executive acting as Co-CEO. Citizens analysts describe this team as positioned to scale a treasury model blending crypto-native expertise with institutional capital market experience.


Citizens expects SharpLink's net asset value per share to climb from under $20 to approximately $35 by the end of 2026. The bank characterizes the stock as a differentiated vehicle for gaining #exposure to Ethereum's growth and on-chain yield generation opportunities.

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October 16, 2025 at 9:37 PM
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