Inclusion in major Russell indexes marks growing institutional recognition for crypto treasury firms holding ETH and Solana assets.
Sharplink and Forward Industries will join the Russell 2000 and 3000 indexes on June 29 as part of the semiannual reconstitution. The move follows BitMine Immersion Technologies’ recent inclusion in the Russell 1000 index, signaling broader acceptance of crypto treasury strategies among institutional investors.
Sharplink, which holds 874,351 ETH valued at $1.8 billion, trades at a discount to its Ethereum holdings with a market cap of $1.22 billion. Forward Industries, a Solana-focused firm, also secured inclusion, reflecting rising interest in alternative blockchain treasuries.
Shares of Sharplink dipped on Tuesday, while FWDI saw modest gains, underscoring mixed market reactions to the index additions.