Ethereum Firm Sharplink, Solana Treasury Forward Industries Joining Russell 2000, 3000 Indexes
Sharplink, an Ethereum treasury firm holding 874,351 ETH (valued at approximately $1.8 billion), will be added to the Russell 2000 and 3000 indexes during their semiannual restructure on June 29. The firm’s market cap stands at about $1.22 billion, below the value of its ETH holdings. BitMine Immersion Technologies, another Ethereum treasury firm, will join the Russell 1000 as well. Forward Industries, a firm that shifted from medical device design to accumulating Solana (SOL), will also enter the Russell 2000 and 3000 indexes. Forward Industries purchased $1.58 billion in SOL at an average of $232 per SOL, but the current price has dropped to about $83.78, reducing its SOL holdings’ value to $588 million and its market cap to $350 million. Inclusion in these indexes is expected to broaden shareholder bases, improve liquidity, and increase visibility among institutional investors. Following the announcements, Sharplink’s shares fell 0.8% while Forward Industries’ shares rose 2.62%.
