Tom Lee Says BitMine Stands to Benefit From Passive Inflows if Added to Russell 1000

BitMine Immersion Technologies, the largest corporate holder of Ether, has been included on a preliminary list for the Russell 1000 Index, and Chairman Tom Lee said the addition could trigger passive fund inflows.

In a post on X on May 23, Lee said BitMine is among candidates for the Russell 1000 large-cap index. He wrote that the company’s market value exceeds the index’s minimum inclusion threshold of $5.7 billion.

Lee also said many asset managers limit their investment universe to Russell 1000 constituents. Passive index funds and exchange-traded funds typically hold 20% to 25% of an individual stock’s market capitalization, he wrote.

As of May 17, BitMine held 5,278,462 Ether. That represents 4.37% of Ethereum’s total circulating supply.