TechFlow News, May 25: Tom Lee, Chairman of BitMine, tweeted that FTSE Russell has published its preliminary list of additions and deletions for index rebalancing. BitMine has been included in the Russell 1000 Index—a large-cap index—with the ticker symbol $BMNR.
Tom Lee noted that BitMine’s current market capitalization exceeds the Russell 1000 inclusion threshold of $5.7 billion. He also pointed out that many active fund managers purchase only Russell 1000 constituents, and the market estimates that approximately 20% to 25% of a stock’s market capitalization is held by passive index funds and ETFs.
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