Tom Lee: Bitmine may be included in the Russell 1000 Index, with passive fund allocation expected to heat up

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Odaily Planet Daily News: Bitmine Chairman Tom Lee posted on the X platform that FTSE Russell has announced the preliminary inclusion and exclusion list for indices, and BitMine Immersion Technologies (stock code: BMNR) has been listed as a potential candidate for inclusion in the large-cap Russell 1000 Index.

Tom Lee pointed out that Bitmine's current market capitalization has already exceeded the $5.7 billion threshold for inclusion in the Russell 1000 large-cap index. Since many active fund managers only invest in Russell 1000 component stocks, if officially included, BMNR may attract more institutional investment.

Additionally, the market generally expects that about 20% to 25% of a stock's market value is typically held by passive index funds and ETFs, which means that inclusion in the Russell 1000 could further boost the inflow of related passive funds.

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