Nasdaq-listed Blockchain Technology Consensus Solutions (BTCS) recently announced its inclusion in the Russell Microcap Index, marking a significant step forward for the Ethereum-focused firm as it gains increased visibility among investors who monitor this important benchmark for smaller U.S. companies.
Earlier this month, the Maryland-based firm shared its ambitious $100 million funding plan aimed at acquiring additional ETH for its balance sheet. With established blockchain operations including staking and block building, BTCS has carved out a niche within the Ethereum ecosystem. The firm also develops innovative solutions such as ChainQ, an analytics platform designed to assist users in navigating through vast amounts of blockchain data.
Being included in the index allows BTCS to be featured in portfolios managed by mutual funds and institutional investors who follow the Russell indexes, often used for fund construction and performance benchmarking. This inclusion could lead to heightened trading volumes and attract new shareholders. Notably, BTCS shares have surged over 22% in pre-market trading and have seen a remarkable increase of over 100% in the past month.
In recent weeks, a number of companies have adopted ether treasury strategies, resulting in notable spikes in their share prices. GameSquare (GAME) is the latest example, scheduling a conference call to discuss its own $100 million ether treasury strategy. Following this announcement, its shares soared by 45% in pre-market trading.
Additionally, SharpLink Gaming (SBET), now recognized as the largest corporate holder of ETH after surpassing the Ethereum Foundation, experienced a 16.6% increase in pre-market trading, on top of a 21.3% gain in the previous trading session. Over the past 30 days, SBET shares have spiked by an impressive 122%.
Ether itself has witnessed a growth of approximately 20% over the past month, fueled by rising corporate adoption. However, it remains down 5% year-to-date. In comparison, Bitcoin has seen an increase of over 25.7% thus far in 2023.
