Could BitMine’s Russell 1000 nod trigger a rise in Ethereum Treasury?

BitMine Immersion Technologies is on the reserve list for inclusion in the Russell 1000, according to Fundstrat’s Tom Lee.

This move is gaining attention as BMNR is one of the largest public Ethereum financial transactions.

Lee said FTSE Russell announced preliminary index additions and deletions on May 23. He added that Bitmine’s market capitalization exceeds the large-cap inclusion minimum of approximately $5.7 billion. According to current market data, BMNR has a market capitalization of nearly $8.58 billion.

BitMine joins Russell 1000 Watch

FTSE Russell has launched the June 2026 Semi-Annual Russell US Index Reconstitution by publishing a preliminary list of companies expected to enter or exit the Russell 3000 Index and Russell Microcap Index. The changes will take effect after the U.S. market closes on June 26th.

The cutoff for the Russell 1000 has also increased further this year. The smallest Russell 1000 company had a market capitalization of $5.7 billion as of April 30, 2026, according to LSEG data.

Lee said many active managers only buy stocks within the Russell 1000. He also said that passive index funds and ETFs often hold an estimated 20% to 25% of a company’s market capitalization.

Passive funds may add BMNR exposure

Funds that track Russell indexes may need to adjust their holdings after the reconstitution is final, so index inclusion can be important. FTSE Russell said the provisional list would be updated over May and June, with the new index taking effect after the market closes on June 26.

This timeline makes BMNR a stock to watch through the eventual reconstitution period. IPOs are not just events for the stock market. BitMine’s balance sheet, which makes extensive use of Ethereum, is also attracting attention.

Crypto Bunter framed this setup as a potential “hate rally” trade as Ethereum sentiment remains weak. This comment refers to a market with growing bearish sentiment, but positioning and forced flows could still support a rebound.

BitMine holds 5.28 million Ethereum

Crypto.news reported that BitMine added 71,672 $ETH Number of shares held increased to 5.28 million shares in one week $ETH. This position accounted for approximately 4.37% of Ethereum’s total supply at the time of reporting.

The same report states that BitMine was betting $4.71 million $ETHwith estimated annual staking revenue of $289 million. The company continues to add $ETH Even though the market is trading below stronger resistance.

Meanwhile, Russell’s update comes as Ethereum faces pressure from weak price action, ETF outflows, and allegations regarding large investments. $ETH Ministry of Finance position. Crypto.news reported. $ETH I was struggling to get back up to $2,150 as the leverage cluster stalled around $2,000 and $2,150.

At the same time, Ethereum network activity remains part of the bullish case. Arbitrum’s 2025 Transparency Report showed that the cumulative number of transactions exceeded 2.1 billion, with a total value of approximately $20 billion locked and approximately $10 billion in stablecoins.

Vitalik Buterin’s latest comments also spurred discussion in the Ethereum Treasury. Crypto.news reported that Buterin said that the Ethereum Foundation’s sales will decrease. $ETH and focus remaining resources on long-term survival, privacy, security, and protocol goals.

Buterin also said that the foundation only holds about 0.16%. $ETH While almost 90% of his own net worth remains domestic; $ETH.