Bitcoin adjacent media advertiser, Thumzup Media Corporation (NASDAQ: TZUP) announced on Tuesday that it would be included on the Russell Microcap Index after the annual reconstitution of the 2025 Russell U.S. Indexes, when the US stock market opens on June 30.
The annual reconstitution of the Russell U.S. Indexes captures the 4,000 largest U.S. stocks based on market capitalization as of Tuesday, April 30. In addition, FTSE Russell ranks these companies by total market cap and determines index membership using objective criteria.
As a result, companies selected for the Russell Microcap Index gain inclusion in the appropriate growth and value style indexes for one year. FTSE Russell updates index membership annually, focusing primarily on market capitalization and style characteristics.
Investment managers and institutional investors widely use Russell indexes for index funds and active investment strategy benchmarks. Furthermore, as of June 2024, Russell’s U.S. indexes served as the benchmark for approximately $10.6 trillion in assets.
These indexes form part of FTSE Russell, a leading global index provider. Consequently, they play a critical role in shaping investment decisions worldwide.
“The inclusion of Thumzup in a Russell Index is a transformative milestone, which is expected to generate index-fund driven accumulation of Thumzup and improve long-term shareholder value,” said Robert Steele, CEO of Thumzup.
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Several crypto companies have joined Russell indexes
Fiona Bassett, CEO of FTSE Russell, emphasized that the Russell indexes have consistently adapted to the evolving U.S. economy. To maintain accurate market representation, FTSE Russell will also fully recalibrate the suite of U.S. indexes.
Starting in 2026, the firm will shift to a semi-annual reconstitution schedule. This change will also help the indexes remain aligned with the market and uphold their role as portfolio benchmarks.
Over the past two years, several cryptocurrency mining companies have joined the Russell indexes.
In July 2024, Hut 8 Corp. (TSE: HUT) (NASDAQ: HUT) and Core Scientific (NASDAQ: CORZ) joined the Russell 3000 Index. Hut 8’s inclusion followed its merger with USBTC, transforming it into a U.S.-domiciled operation and boosting its market capitalization to $1.4 billion. Furthermore, Core Scientific, after emerging from Chapter 11 bankruptcy, achieved a market cap of $1.8 billion, driven by strategic AI-related initiatives .
Earlier, in 2023, Bitcoin mining companies like Cipher Mining (NASDAQ: CIFR), Marathon Digital (NASDAQ: MARA), and Riot Platforms (NASDAQ: RIOT) became top performers in the Russell 2000 Index. Cipher Mining’s stock surged over 720 per cent, while Bit Digital‘s (NASDAQ: BTBT) increased by more than 620 per cent, correlating with Bitcoin’s price jump of over 90 per cent that year.
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