Galaxy Digital joins Russell 1000, marking major milestone for crypto firms

Galaxy Digital and Bitmine were added to the Russell 1000 Index in the June 2024 reconstitution, expanding the benchmark to include two digital‑asset firms. Galaxy Digital, founded by Mike Novogratz, entered the index on June 29 after its market capitalisation reached about $11.55 billion. The inclusion moves the company from smaller‑cap indexes into a large‑cap tracker used by trillions of dollars of fund assets, requiring index funds and ETFs to buy its shares. Galaxy also announced a 1.6 GW AI‑compute campus in Texas, linking crypto mining and artificial‑intelligence infrastructure.

Bitmine, an Ethereum‑focused digital‑asset treasury company, also secured a Russell 1000 slot, giving it automatic exposure to institutional investors whose funds track the index. The move is seen as validation of the growing integration of cryptocurrency businesses into mainstream finance and may boost the firm’s liquidity and visibility. Both additions illustrate the broader mainstreaming of crypto‑related firms within traditional financial markets.