Tom Lee: Bitmine May Be Included in the Russell 1000 Index, Anticipation of Passive Capital Allocation Rises

Odaily Odaily News Bitmine Chairman Tom Lee posted on X, stating that FTSE Russell has released the preliminary list of index inclusions and deletions. BitMine Immersion Technologies (stock ticker: BMNR) has been included in the list of stocks eligible for inclusion in the large-cap Russell 1000 index.

Tom Lee noted that Bitmine's current market capitalization is already above the $5.7 billion threshold for inclusion in the Russell 1000 large-cap index. Since many active fund managers only invest in Russell 1000 constituent stocks, BMNR could potentially attract more institutional capital if it is formally added to the index.

Additionally, the market generally expects that about 20% to 25% of a stock's market capitalization is typically held by passive index funds and ETFs. This means that eligibility for the Russell 1000 could further boost expectations for related passive capital inflows.