color: var(color-red-500)

by

Joe Lubin-backed <a href="https://tech-oracle.com/eth-usd/">Ethereum</a> treasury firm SharpLink to join the Russel indexesFinance

What to know:

  • SharpLink will join the Russell 2000 and Russell 3000 indexes effective June 29.
  • The company held nearly 873,000 ETH, worth roughly $1.8 billion at current prices.
  • The inclusion comes as many digital asset treasury firms have slowed or halted crypto purchases.

SharpLink Gaming (SBET), a company with funds secured by Ethereum and backed by Ethereum co-founder Joe Lubin, will be added to the Russell 2000 and Russell 3000 stock indexes later this month. This inclusion could attract more investment from funds that automatically track those indexes.

FTSE Russell announced Tuesday that the change will happen after trading ends on June 29, as part of its yearly update to the index.

Russell indexes are popular indicators of how U.S. stocks are performing. Around $12 trillion in investments are based on these indexes, using both passive and active strategies. Being included in the Russell 2000, which tracks small U.S. company stocks, can often lead to more trading activity and attract investment from larger institutions.

SharpLink has become a major public investor in ether (ETH), following a trend started last year by companies like MicroStrategy (MSTR) who began holding bitcoin as part of their company finances. However, unlike many others, most companies that adopted this strategy have since stopped buying or even started selling their digital assets, as both their stock prices and the crypto market have declined.

According to its most recent financial report, SharpLink held 872,984 ETH in early May, making it the second-largest public holder of Ethereum after Bitmine, which holds 5.4 million ETH. The value of SharpLink’s Ethereum is currently around $1.8 billion, and the company hasn’t bought any more since October.

The stock has dropped roughly 95% from its high last May, when many investors were enthusiastically buying shares of companies holding cryptocurrency as part of a larger boom in digital currencies. Despite this significant decline, the stock is still worth more than twice what it was before the company shifted its focus to holding Ethereum. Today, the stock is down about 2%, mirroring the performance of Ethereum’s price.

Being added to the index confirms SharpLink’s strong approach to managing its Ethereum holdings, according to CEO Joseph Chalom. He believes this will also make it easier for the company to raise money in financial markets.

Read More

2026-05-26 22:20