BitMine included in the preliminary Russell 1000 list, may attract $2.15 billions in potential buying
BlockBeats news, on May 25, BitMine Chairman Tom Lee tweeted that FTSE Russell has released the preliminary inclusion and exclusion list, and BitMine (BMNR) is among the preliminary inclusions for the large-cap Russell 1000, with a market capitalization exceeding the minimum threshold of $5.7 billion required for large-cap inclusion.
According to Tom Lee, many actively managed funds only purchase Russell 1000 constituents, and 20% to 25% of the market capitalization of a single stock is typically held by passive index funds or ETFs.
Based on BitMine’s current market capitalization of $10.75 billion, if successfully included, BitMine will attract at least $2.15 billion in buying interest.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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