#EthereumStakingATH39.2METH 🔥🔥🔥🚨Ethereum: Tom Lee and the Russell 1000 index, are they about to pump ETH?🔥🔥🔥🚨
$ETH
Ethereum's price is going through a sideways consolidation phase, while an indirect institutional catalyst seems to be brewing behind the scenes.
On-chain data reveals that BitMine Immersion Technologies, the largest Ether treasury company led by Tom Lee, has added an additional 60,000 ETH to its reserves after withdrawing these funds from the Kraken platform.
Although this information hasn’t been officially confirmed by BitMine or Tom Lee, the move is turning heads.
Meanwhile, FTSE Russell has placed BitMine on its preliminary inclusion list for the Russell 3000. Tom Lee publicly points out that the company’s market cap, sitting at $10.15 billion, comfortably exceeds the $5.7 billion threshold required for eligibility for the Russell 1000.
This assumption is solid, as BitMine's valuation comfortably exceeds the minimum required. On X, Lee specified that "many active managers only buy stocks that are part of the Russell 1000." According to his estimates, passive index funds and ETFs typically hold about 20% to 25% of the market cap of any stock included.
$ETH
Ethereum's price is going through a sideways consolidation phase, while an indirect institutional catalyst seems to be brewing behind the scenes.
On-chain data reveals that BitMine Immersion Technologies, the largest Ether treasury company led by Tom Lee, has added an additional 60,000 ETH to its reserves after withdrawing these funds from the Kraken platform.
Although this information hasn’t been officially confirmed by BitMine or Tom Lee, the move is turning heads.
Meanwhile, FTSE Russell has placed BitMine on its preliminary inclusion list for the Russell 3000. Tom Lee publicly points out that the company’s market cap, sitting at $10.15 billion, comfortably exceeds the $5.7 billion threshold required for eligibility for the Russell 1000.
This assumption is solid, as BitMine's valuation comfortably exceeds the minimum required. On X, Lee specified that "many active managers only buy stocks that are part of the Russell 1000." According to his estimates, passive index funds and ETFs typically hold about 20% to 25% of the market cap of any stock included.