ChainCatcher report: BitMine Chairman Tom Lee tweeted that FTSE Russell has released its preliminary list of additions and deletions, with BitMine (BMNR) included on the preliminary list for inclusion in the Russell 1000 large-cap index, as its market capitalization exceeds the $5.7 billion minimum threshold required for large-cap inclusion. Tom Lee noted that many actively managed funds only purchase stocks within the Russell 1000, and typically 20% to 25% of a stock’s market capitalization is held by passive index funds or ETFs. Based on BitMine’s current market capitalization of $10.75 billion, successful inclusion could bring at least $2.15 billion in buying pressure.
BitMine Listed in Russell 1000 Preliminary Inclusion, Expected to Attract $2.15 Billion in Buy Orders
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Summary
BitMine (BMNR) has entered the preliminary Russell 1000 index list by FTSE Russell, with a market cap of $10.75 billion exceeding the $5.7 billion threshold. This inclusion could attract $2.15 billion in buy orders from both active and passive funds. Value investing in crypto is gaining momentum as institutional demand increases. BitMine’s chairman, Tom Lee, highlighted the potential for significant inflows, noting that the risk-to-reward ratio for index inclusion is favorable.
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