Crypto Firms Gain Mainstream Recognition through Russell Index Inclusion

FTSE Russell has announced that several cryptocurrency firms will be joining its widely followed stock indexes in June. SharpLink Gaming, a company backed by Ethereum co-founder Joe Lubin, will join the Russell 2000 and Russell 3000 indexes on June 29.

The addition of these companies to the Russell indexes could increase their trading volume and attract more institutional investors through index-tracking funds. The Russell indexes are widely followed benchmarks for US equities, with roughly $12 trillion in assets tied to them.

SharpLink holds nearly 873,000 ETH worth approximately $1.8 billion, making it the second-largest public holder of Ether behind Bitmine. CEO Joseph Chalom stated that the index inclusion validates their 'institutional-grade ETH treasury strategy.'