Sharplink and Forward Industries Expected to Join Russell Indexes
A number of crypto companies, including Sharplink and Forward Industries, have been included in the preliminary list of candidates for the Russell 3000 index. The list, published by index provider FTSE Russell, also includes the Gemini crypto exchange and the financial services firm Galaxy Digital. The Russell 3000 index tracks the 3,000 largest U.S. companies, and inclusion requires a minimum market capitalization of 146.4 million USD. This is reported by Cointelegraph.com reports .
Sharplink's market value stands at 1.2 billion USD, which qualifies it for inclusion in the Russell 2000 index. The company's CEO, Joseph Chalom, stated that joining the index will expand the shareholder base and strengthen access to capital markets. Additionally, Forward Industries, which holds a Solana treasury, is also considered for the index with a market capitalization of 350 million USD.
Bitmine Immersion Technologies and Galaxy Digital are expected to join the larger Russell 1000 index. Bitmine's capitalization has exceeded 5.7 billion USD, while Galaxy Digital is vying for a spot with a valuation of 11.55 billion USD. This places them alongside technology giants such as NVIDIA, Microsoft, Apple, and Google.
Inclusion in the indexes is a major milestone for companies, as many active and passive funds, including ETFs, typically purchase stocks contained within the index. FTSE Russell will update the list throughout June, and the reconstituted indexes will officially take effect after the U.S. markets close on June 26.
