PANews reported on April 10th that, according to CoinDesk, TD Cowen analyst Lance Vitanza has given buy ratings to three digital asset treasury companies, believing they could outperform spot crypto ETFs. Vitanza's price targets for Nakamoto, SharpLink Gaming, and Strive are $1, $16, and $26 respectively, assuming Bitcoin reaches approximately $140,000 and Ethereum reaches approximately $3,650 by the end of 2026.

Nakamoto is characterized by directly accumulating Bitcoin and holding minority stakes in overseas treasury companies; SharpLink, led by former BlackRock head of digital assets and Ethereum co-founder Joseph Lubin, increases its Ethereum holdings per share through treasury operations and staking; Strive acquired Semler Scientific in January 2026, becoming the first publicly traded company to acquire another Bitcoin treasury company. Vitanza believes that these companies' operations and treasury strategies (including Bitcoin and Ethereum accumulation, minority stake investments, and staking returns) may generate better returns than spot crypto funds.