Ethereum Treasury Sharplink (SBET) to Enter Russell 2000 & 3000 Indexes

Ethereum

Ethereum Treasury Sharplink (SBET) to Enter Russell 2000 & 3000 Indexes

Ethereum treasury firms are gaining traction from Wall Street despite the ongoing bearish momentum recorded in the ETH price. For context, a recent update showed that Sharplink, Inc. (SBET) is all set to enter the Russell 2000 and 3000 indexes.

In addition, the leading Ethereum treasury firm, Bitmine (BMNR), has also qualified for inclusion in the Russell 1000 Index. These moves hint at a soaring institutional acceptance of the firms that are focusing on Ethereum treasury strategies.

Sharplink to Join Russell Marking Major Milestones

Sharplink (SBET) has recently said that FTSE Russell added the company to its preliminary reconstitution list published on May 22. The inclusion will officially take effect after market close on June 29, following the semi-annual Russell index reshuffle.

Notably, the firm has described the move as a significant step for its Ethereum treasury strategy. Russell indexes track a massive pool of institutional money.

According to FTSE Russell, nearly $12.2 trillion in assets benchmark these indexes through active and passive investment strategies. The Russell 2000 specifically tracks small-cap American companies.

Meanwhile, Sharplink CEO Joseph Chalom said the company sees the inclusion as validation of its institutional-grade Ethereum treasury model. He added that the move could expand the companys shareholder base and strengthen its access to capital markets.

In addition, another leading Ethereum treasury firm, Bitmine, has also confirmed that it met the requirements to enter the Russell 1000 Large Cap Index. The company stated that FTSE Russell will publish the final updated list on June 18, while the reconstituted index becomes effective on June 26.

Besides, Bitmine has also added 111,942 ETH recently, which has further sparked optimism among traders.

Ethereum Price Continues to Slip

The latest announcement from Sharplink and Bitmine comes amid a challenging time for the Ethereum price. ETH price has slipped nearly 3% today to $2,067 at the time of writing, with experts hinting at further bearish pressure ahead.

Notably, expert Ted Pillows said that ETH price must reclaim the $2,100 support to avoid a further fall. However, despite that, investor interest in Ethereum treasury firms like Sharplink and Bitmine may continue to rise ahead.

Source: Ted Pillows, X

At the time of writing, Bitmine stock was around 1.4% and exchanged hands at $19.15, suggesting increasing confidence among traders.

Source: Yahoo Finance

However, at the same time, Sharplink appears to have struggled to gain the investors attention. For context, SBET stock was down around 1.69% and traded at $6.13.