Russell | Crypto

Bitmine purchased about $43 million worth of Ether last week as it entered the Russell 1000 Index, bringing it closer to its goal of owning 5% of ETH’s supply. Ether treasury company Bitmine Immersion Technologies added more than 27,000 Ether to its holdings last week as the firm joined the Russell index tracking the largest 1,000 US companies. Bitmine said Monday that after its latest $43 million purchase, it held just over 5.7 million Ether (ETH) bought at an average price of $1,569 per token and held 4.7% of the ETH supply of 120.7 million tokens, closer to its goal of owning 5% of Ether’s supply. Bitmine chairman Tom Lee said the past week “was a challenging one for crypto investors as ETH fell by 8%, even as Ethereum witnessed notable positive developments such as the creation of Ethlabs, and even the Bank of England softened its stance around stablecoins.”  Read more

Russell 2000 Inclusion: Impact on Crypto-Equities & ETH The post Russell 2000 Rebalancing: How Index Inclusion Could Move Crypto-Equities and Ethereum appeared first on Cryptonews.

Bitmine and Galaxy Digital may also be eligible for the Russell 1000, an index tracking the largest 1,000 US companies that includes Nvidia, Microsoft and Apple. A range of crypto companies appears in a preliminary list for the Russell 3000 index, including treasury firms Sharplink and Forward Industries, along with crypto exchange Gemini and crypto services firm Galaxy Digital.  A preliminary index list for the Russell 3000 was published by the index’s provider, FTSE Russell, on Friday. The index tracks the 3,000 largest companies in the US and requires a market capitalization of at least $146.4 million. Sharplink has a market cap of $1.2 billion, and the company’s CEO, Joseph Chalom, said in a statement on Tuesday that it means the firm could make the Russell 2000, an index that tracks the largest 2,000 publicly traded US companies. Read more

Ethereum price is grinding while an indirect institutional catalyst might be building in the background. Bitmine Russell 1000 inclusion. The post Ethereum Price Stuck Sideways as Tom Lee Hints at Russell 1000 Inclusion: Passive ETF Flows Could Boost ETH USD appeared first on Cryptonews.

Bitmine's Tom Lee says the firm could be considered for the Russell 1000, and its stock may get a boost from active and passive fund managers. Ether treasury company Bitmine Immersion Technologies has been included in a preliminary list for potential inclusion in the Russell 3000 index, a move that chairman Tom Lee hinted could provide tailwinds for the company’s stock. FTSE Russell, a subsidiary of the London Stock Exchange Group, published a preliminary index inclusion list for the Russell 3000 on Friday, its index tracking the 3,000 largest companies in the US.  Lee said in an X post Saturday that Bitmine could be included in the Russell 1000, an index tracking the largest 1,000 US companies, due to the index’s minimum market capitalization threshold of $5.7 billion. Bitmine’s market cap was $10.15 billion as of market close on Friday. Read more

BitMine bought an additional 60,000 ETH worth about $126 million as Ethereum traded near $2,000, extending one of the largest corporate accumulation strategies tied to the second-largest digital asset. The purchase came just as the firm was named to the preliminary list for the Russell 1000 Index, positioning the crypto holder to capture a slice […] The post BitMine’s $126M Ethereum buy sets up a Russell index test tied to $12.2T in assets appeared first on CryptoSlate.