TD Cowen Initiates SharpLink With a Buy: Is This Crypto Sports Betting Play the Next Big Thing?
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TD Cowen Initiates SharpLink With a Buy: Is This Crypto Sports Betting Play the Next Big Thing?
"TD Cowen's Buy reflects confidence in SharpLink's dual identity: a sports betting affiliate marketing platform with deep crypto integration. The company operates the PAS.net affiliate network connecting bettors to licensed sportsbooks while running one of the largest corporate Ethereum treasury programs in the world."
"SharpLink completed its pivot to an institutional-grade Ethereum treasury platform in 2025, accumulating 868,699 total ETH and becoming the world's second-largest publicly traded holder of Ethereum as of March 6."
TD Cowen has given SharpLink Gaming a Buy rating, emphasizing the company's unique position at the intersection of sports betting affiliate marketing and crypto treasury management. The stock is currently down 28% year-to-date, trading at $6.47, significantly lower than its 52-week high of $124.12. SharpLink operates the PAS.net affiliate network and has a substantial Ethereum treasury program, which provides a competitive edge. The expanding online gambling market and regulatory changes in North America present growth opportunities for the company.
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