CoinDesk
SharpLink Gaming (SBET), the Ethereum treasury firm backed by Ethereum co-founder Joe Lubin, will join the Russell 2000 and Russell 3000 indexes effective June 29, as part of FTSE Russell's annual reconstitution. The inclusion could funnel fresh passive inflows into the stock from the roughly $12 trillion in assets benchmarked against Russell indexes.
The company held 872,984 ETH — worth approximately $1.8 billion at current prices — as of its latest quarterly earnings report in early May, making it the second-largest public ETH treasury behind Bitmine's 5.4 million ETH position. SharpLink hasn't reported any new ETH purchases since October, even as most peer digital asset treasury firms have halted or reversed their crypto buying.
The stock has shed roughly 95% from its speculative peak last May, though it still trades more than double its pre-pivot level.
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