BTCS Joins Russell Microcap Index as Ether Treasury Firms Continue to Post Big Gains

Nasdaq-listed Blockchain Technology Consensus Solutions (BTCS) is joining the Russell Microcap Index, giving the Ethereum-focused firm greater exposure among investors who track the benchmark for smaller U.S. companies.

The Maryland-based firm announced earlier this month a $100 million funding plan to acquire more ETH for its balance sheet. The firm says it runs blockchain operations like staking and block building, with a tilt toward the Ethereum ecosystem. It also develops tools such as ChainQ, an analytics platform designed to help users sift through blockchain data.

Index inclusion means BTCS could appear in portfolios run by mutual funds and institutional managers who follow the Russell indexes, which are used to build funds and benchmark performance.

That might translate into increased trading volume or new shareholders. BTCS shares are up more than 22% in pre-market trading, and over 100% in the past month.

Several companies have over the last few weeks turned to an ether treasury reserve. In doing so, their share prices have surged, with GameSquare (GAME) being the latest example.

The firm announced it scheduled a conference call to review its $100 million ether treasury strategy. Its shares are up 45% in pre-market trading, seemingly based on that announcement.

SharpLink Gaming (SBET), the largest corporate holder of ETH after surpassing the Ethereum Foundation, is similarly up 16.6% in pre-market trading after rising 21.3% in yesterday’s trading session. In the past 30 days it’s up 122%.

Ether itself is up around 20% over the past month as corporate adoption grows. Year-to-date, it’s still down 5%. Bitcoin, in comparison, is up more than 25.7% so far this year.