TechFlow News, May 12: According to The Block, TD Cowen has reaffirmed its “Buy” rating and $16 price target for Sharplink (SBET), an Ethereum treasury company. First-quarter financial results show Sharplink’s revenue exceeded $12 million, and the company simultaneously announced a joint venture with Galaxy Digital to launch a yield fund of approximately $125 million, focused on DeFi and liquidity opportunities.
TD Cowen noted that Sharplink’s current share price ($7.76) trades at roughly 0.8x discount to its net asset value per share ($9.68), presenting a “favorable buying window.” Analysts also identified four key pillars driving Ethereum demand: stablecoins, tokenization, DeFi, and AI-driven agent finance—structural demand trends expected to continue supporting Sharplink’s Ethereum treasury strategy. Sharplink currently holds approximately 873,000 ETH, valued at roughly $2 billion.
