Crypto treasury firm Sharplink added to Russell 2000 and 3000

A publicly traded company focused on Ethereum treasury management, Sharplink, will join the Russell 2000 and Russell 3000 indexes on June 29. The move is part of a broader trend of crypto treasury firms gaining inclusion in major equity benchmarks, with BitMine Immersion Technologies set to join the Russell 1000 and Forward Industries also entering the Russell 2000 and 3000 indexes.

Sharplink’s inclusion, announced Tuesday, places the company inside widely tracked U.S. equity benchmarks used by institutional investors and index-tracking funds. Chief Executive Joseph Chalom said the listing validates the company’s institutional-grade Ethereum treasury strategy and is expected to broaden its shareholder base and strengthen its access to capital markets.

The company holds over 874,000 Ethereum tokens, valued at approximately $1.8 billion. Despite this, Sharplink’s market capitalization was roughly $1.22 billion as of Tuesday’s close, indicating its shares trade at a discount to the value of its crypto holdings. The firm recently rebranded from Sharplink Gaming to focus on its digital asset operations.

Another firm, Forward Industries, which shifted from medical design to a...