Inclusion in the Russell indexes may bring new passive inflows from index-tracking funds, despite the company's stock dropping 95% from its peak in the past year.
By Krisztian Sandor|Edited by Aoyon Ashraf May 26, 2026, 7:03 p.m. 2 min readMake preferred on SharpLink CEO Joseph Chalom and Consensys CEO Joe Lubin speaking at Consensus Hong Kong 2026 (CoinDesk)Key Details:
- SharpLink will officially join the Russell 2000 and Russell 3000 indexes on June 29.
- The firm possesses around 873,000 ETH, valued at approximately $1.8 billion at current market prices.
- This move occurs as many crypto treasury firms have either reduced or ceased their crypto acquisitions.
SharpLink Gaming (SBET), an Ethereum treasury firm supported by Ethereum co-founder Joe Lubin, is set to join the Russell 2000 and Russell 3000 indexes later this month, potentially increasing interest from institutional investors through index-tracking funds.
The inclusion will be effective after the market closes on June 29 as part of FTSE Russell’s annual index reconstitution, the company announced on Tuesday.
Russell indexes are significant benchmarks for U.S. equities, with about $12 trillion in assets associated with them through various investment strategies, both passive and active, according to the press release. Being part of the Russell 2000, which serves as a gauge for small-cap U.S. stocks, could enhance trading activity and institutional ownership.
SharpLink has positioned itself as one of the leading public holders of ether (ETH), following a trend of companies that adopted crypto treasury strategies similar to that of the bitcoin holder Strategy (MSTR). However, many digital asset treasuries have stopped buying or shifted to selling their holdings as their stock values have plummeted and the crypto market has cooled down.
The firm reported holding 872,984 ETH in early May in its latest quarterly earnings report, making it the second-largest public ETH treasury, second only to Bitmine's 5.4 million ETH. SharpLink's ETH is currently valued at around $1.8 billion, and it has not reported any new ETH acquisitions since October.
Since its peak driven by speculative interest last May, the stock has plummeted about 95%. Despite this, it remains more than double its value prior to SharpLink's transition to an Ethereum treasury model. On Tuesday, the stock decreased by approximately 2%, mirroring ETH's price movements.
SharpLink CEO Joseph Chalom remarked that the index inclusion validates the company’s "institutional-grade ETH treasury strategy" and can enhance its "access to capital markets."
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