Sharplink and Forward Industries to Join Russell 2000 and 3000 Indexes

Sharplink and Forward Industries Added to Russell Indexes

Sharplink, known for its Ethereum treasury management, and Forward Industries, which has ties to Solana, will be included in the Russell 2000 and 3000 indexes starting June 29. This announcement marks a significant step for both companies as they join BitMine Immersion Technologies, which was also recently added to the Russell 1000 index.

Joseph Chalom, CEO of Sharplink, expressed that this inclusion validates the firm's ETH treasury strategy and is expected to enhance shareholder engagement and access to capital markets. Currently, Sharplink holds 874,351 ETH, valued at around $1.8 billion, but its market capitalization is about $1.22 billion, indicating a trading discount compared to its Ethereum assets.

Forward Industries, which transitioned from medical design to focus on Solana, acquired $1.58 billion in SOL tokens last year at an average price of $232 each. However, with the current price at $83.78, their Solana holdings are now valued at approximately $588 million, well above their market cap of $350 million, making it 2.4 times larger than the smallest member of the Russell 2000.

The inclusion of these companies in the Russell Indexes connects them to a network with over $12.2 trillion in investments. Ryan Navi, CEO of Forward Industries, noted that being part of the index will help broaden their shareholder base and improve visibility to long-term investors. Following the announcement, Sharplink's shares dipped by 0.8% to $6.18, while Forward Industries saw a 2.62% increase, closing at around $4.70.