Ethereum · BitMine Immersion Technologies · Strategy · The Block
Ethereum, Solana treasury firms Sharplink and Forward join Russell indexes
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Index investors will soon get indirect exposure to Ethereum (ETH) and Solana (SOL) through two companies joining the Russell indexes that use the cryptocurrencies in their treasury strategies.
Key facts
- Meanwhile, Forward Industries (Nasdaq: FWDI) is trading for around $4.75, down more than 87% from the $39 highs it made last September, shortly after announcing its Solana treasury pivot
- Sharplink and Forward Industries said Tuesday that they are set to join the Russell 2000 and Russell 3000 indexes following FTSE Russell's annual rebalancing, effective upon the U.S. market opening
- Strategy, which had long traded in the Russell indexes as a software company before becoming a leveraged bitcoin proxy, moved into the Russell 1000 in 2024 amid bitcoin’s rally above $100,000
- The company currently holds 868,699 ETH worth nearly $1.8 billion
Summary
Sharplink and Forward Industries said Tuesday that they are set to join the Russell 2000 and Russell 3000 indexes following FTSE Russell's annual rebalancing, effective upon the U.S. market opening on June 29. Sharplink, which has held steady as the second-largest public ether treasury company behind Tom Lee's Bitmine, said the inclusion expands its "institutional visibility" and could improve "access to index-tracking capital. The company currently holds 868,699 ETH worth nearly $1.8 billion. Forward Industries, the top public holder of Solana with roughly $585 million in SOL, sees the inclusion as a boon to its goal of "compounding SOL-per-share.