Ethereum Treasury Firm SharpLink to Join Russell 2000 and 3000 Indexes
May 26, 2026 | By Krisztian Sandor | Edited by Aoyon Ashraf
SharpLink Gaming (ticker: SBET), the Ethereum treasury firm backed by Ethereum co-founder Joe Lubin, is set to be included in the Russell 2000 and Russell 3000 stock indexes, effective after market close on June 29, 2026. This development holds the potential to draw new institutional and passive investment flows from index-tracking funds.
Index Inclusion Details
The inclusion into the Russell indexes is part of the annual reconstitution conducted by FTSE Russell, a prominent index provider. The Russell 2000 index benchmarks small-cap U.S. stocks, while the Russell 3000 covers a broader spectrum of U.S. equities. Collectively, these indexes are widely followed by investment managers overseeing roughly $12 trillion in assets.
Being added to these indexes often increases a company’s visibility among institutional investors and can lead to enhanced trading volumes. For SharpLink, this could mean more institutional ownership and capital inflows, especially from funds that passively track these benchmarks.
SharpLink’s Ethereum Treasury Strategy
SharpLink has emerged as one of the largest public holders of ether (ETH), following a wave of companies implementing crypto treasury strategies inspired by bitcoin treasury models such as those pursued by MicroStrategy. According to its latest earnings report from early May 2026, SharpLink holds approximately 872,984 ETH, valued near $1.8 billion at current market prices. This makes SharpLink the second-largest publicly listed Ethereum treasury after Bitmine, which holds about 5.4 million ETH.
Notably, SharpLink has not reported any new ETH purchases since October 2025. The firm’s focus on maintaining a substantial ETH treasury contrasts with many other digital asset treasury firms that have paused or reversed crypto acquisitions amid recent market volatility.
Stock Performance and Market Context
Despite its sizeable Ethereum holdings, SharpLink’s stock has experienced significant price declines over the past year. The shares have dropped approximately 95% from their peak during the speculative rally last May, a period when investor enthusiasm for crypto treasury firms surged along with digital asset prices. Nonetheless, the stock trades at more than double the level it held before SharpLink shifted its strategic focus toward an Ethereum treasury.
As of May 26, 2026, SharpLink’s stock was down roughly 2%, mirroring a similar decline in the price of ETH.
Company Leadership and Outlook
SharpLink CEO Joseph Chalom emphasized that inclusion in the Russell indexes serves as a strong validation of the company’s “institutional-grade ETH treasury strategy.” He added that this recognition could enhance SharpLink’s access to capital markets and support its future growth initiatives.
Joe Lubin, a co-founder of Ethereum and a prominent advocate for blockchain technologies, continues to back SharpLink and its mission to strategically manage Ethereum assets within a publicly traded vehicle.
Conclusion
SharpLink’s forthcoming inclusion in the Russell 2000 and 3000 indexes signals growing institutional acceptance of crypto treasury firms within mainstream equity markets. While the company faces challenges reflected in its recent stock performance, the validation by major index providers could open new avenues for capital and strengthen its standing among investors pursuing exposure to Ethereum and blockchain innovation.
For more updates on Ethereum and digital asset markets, stay tuned to CoinDesk.