SharpLink to Join Russell Indexes as Ethereum Treasury Strategy Gains Institutional Attention

SharpLink Gaming, the Ethereum treasury company backed by Ethereum co-founder Joe Lubin, is set to join the Russell 2000 and Russell 3000 indexes later this month. The inclusion will take effect after market close on June 29 as part of FTSE Russell’s annual index update.

The move could bring fresh institutional interest to the company, as many investment funds automatically buy stocks included in major indexes. Russell indexes track a large part of the U.S. stock market, with nearly $12 trillion tied to them through passive and active investment strategies.

SharpLink Ethereum holdings remain among the largest

SharpLink has become one of the biggest public holders of Ethereum through its treasury strategy. According to its latest quarterly report, the company held 872,984 ETH in early May, valued at around $1.8 billion at current market prices.

The company ranks as the second-largest public Ethereum treasury, behind Bitmine Immersion Technologies, which holds around 5.4 million ETH. SharpLink has not disclosed any new Ethereum purchases since October.

SharpLink stock performance and future outlook

SharpLink shares have dropped nearly 95% from their peak reached during last year’s crypto treasury rally. However, the stock still trades more than double its level before the company shifted toward an Ethereum-focused treasury strategy.

CEO Joseph Chalom said joining the Russell indexes supports the company’s “institutional-grade ETH treasury strategy” and could improve access to capital markets.