Citizens Bank has issued a bullish forecast for SharpLink Gaming, projecting over 200% upside potential for the company’s shares. The bank set a target price of $50 per share, citing SharpLink’s innovative approach to managing Ethereum holdings. Meanwhile, the bank expects Ethereum (ETH) to reach $7,000 by 2026, with long-term projections exceeding $20,000 by 2030.
The investment bank initiated coverage on SharpLink with an “outperform” rating, emphasizing that the company’s Ethereum treasury model could act as a catalyst for NAV growth as the DeFi ecosystem expands. During morning trading, SharpLink shares rose 2% to $15.45, though they later traded at $14.57.
SharpLink has distinguished itself by actively managing its Ethereum reserves. Rather than passively holding crypto assets, the company deploys ETH into staking and other yield-generating strategies, aiming to increase net asset value over time. Analysts refer to this approach as a “growth flywheel”, enhancing shareholder value as Ethereum adoption grows.
According to Citizens, SharpLink’s leadership combines deep crypto expertise with traditional finance experience. The company is led by Joseph Lubin, Ethereum co-founder and chairman of the board, and Joseph Chalom, former BlackRock executive and co-CEO. Citizens notes that this leadership team is well-positioned to scale a treasury model that blends crypto-native agility with institutional capital discipline.
SharpLink’s strategy has already gained institutional confidence. The company raised $76.5 million in a recent equity offering above market price, reinforcing investor trust in its ETH management approach. As of October 6, 2025, SharpLink held over 839,000 ETH, underpinning its treasury strategy launched in June 2025.
Analysts suggest that SharpLink shares may become a compelling vehicle for investors seeking enhanced exposure to Ethereum growth, combining on-chain operational leverage with disciplined off-chain financial management.
