TD Cowen analyst Lance Vitanza has initiated coverage of three digital asset treasury companies—Nakamoto (NAKA), SharpLink Gaming (SBET), and Strive (ASST)—with buy ratings, suggesting they could outperform traditional crypto ETFs. Vitanza’s price targets are $1 for Nakamoto, $16 for SharpLink, and $26 for Strive, contingent on significant rebounds in Bitcoin and Ethereum prices by late 2026. He believes these firms’ strategies, which include aggressive coin accumulation and staking yields, position them well to generate superior returns compared to standard crypto exchange-traded products.
The analyst highlights that Nakamoto’s unique combination of direct Bitcoin accumulation and minority stakes in other treasury firms could yield substantial dollar gains, while SharpLink’s focus on Ethereum treasury operations may provide better staking yields than spot ETPs. Strive’s recent acquisition of another treasury company positions it as a potential consolidator in the sector, further enhancing its growth prospects.
For market professionals, these insights suggest a potential shift in investment focus from traditional crypto ETFs to these treasury companies, especially if the broader crypto market recovers.
Source: coindesk.com