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BitMine is preliminarily included in the Russell 1000 list, potentially attracting $2.15 billion in buying interest.
BlockBeats News, May 25 — BitMine Chairman Tom Lee posted on X that FTSE Russell has released the preliminary inclusion and exclusion list. BitMine (BMNR) is on the preliminary inclusion list for the Russell 1000 large-cap stocks, and its market value is higher than the minimum threshold of $5.7 billion required for large-cap inclusion.
Tom Lee said that many actively managed funds only buy Russell 1000 constituent stocks, and typically 20% to 25% of a single stock’s market capitalization is held by passive index funds or ETFs.
Based on BitMine’s current market capitalization of $10.75 billion, if it is successfully included, BitMine will receive at least $2.15 billion in buy-side funds.