TheBlock
SharpLink Gaming and Forward Industries — two publicly traded companies that have adopted Ethereum and Solana as primary treasury reserve assets — have been added to the Russell indexes, marking a significant milestone for the crypto treasury firm model.
Russell index inclusion is a structural catalyst: passive funds tracking the Russell 2000 and 3000 are required to buy shares of newly added constituents, creating automatic, non-discretionary demand. For companies whose equity is effectively a leveraged proxy on ETH or SOL, that forced buying translates directly into broader market exposure for the underlying assets.
The inclusion signals that the treasury-firm playbook — pioneered at scale by MicroStrategy for Bitcoin — is now being replicated across the Ethereum and Solana ecosystems with enough institutional credibility to clear the Russell methodology's eligibility screens.
CoinTelegraph
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