Solana’s institutional footprint just got meaningfully larger, though the price action has yet to follow. Forward Industries, the Nasdaq-listed SOL treasury company, is set to join the Russell 2000 and Russell 3000 indexes.
The timing makes the update interesting because Solana itself is still fighting to recover stronger momentum. SOL is currently trading around $80, and although the $100 level is not far in percentage terms, the price action still makes that target look difficult.
Solana Moves Into New Market
Forward Industries, a publicly traded company that transformed from a medical product manufacturer into the world’s largest corporate holder of Solana, has announced it is going to join the Russell 2000 and Russell 3000 indexes when FTSE Russell’s semi-annual reconstitution takes effect on June 29, 2026.
Related Reading: What Solana’s 108% Growth Means For Its Price Outlook
Forward Industries currently holds 7,013,536 SOL, worth approximately $624 million, making it the largest public corporate SOL holder at about 1.121% of the total supply. The company has positioned itself as a Solana-focused digital asset treasury company, with a strategy built around buying, holding, staking, and investing in SOL and SOL-related assets.
That makes the Russell inclusion important for the broader SOL ecosystem. The Russell 3000 tracks the largest US public companies by market capitalization, and the Russell 2000 tracks the top 2000 companies. Once Forward Industries enters these indexes, Solana-linked exposure will sit inside a market structure followed by passive funds, small-cap investors, and institutional portfolio managers.
The move is also important because Forward Industries’ strategy as a Solana treasury company depends heavily on the cryptocurrency’s long-term value. If SOL performs well, the company’s treasury model will become more attractive to investors. If demand for Solana-based assets grows as expected, then Forward Industries could become one of the public-market vehicles investors might be interested in for exposure to Solana.
Forward is not the only crypto-based company making a move into the Russell indexes. Ethereum treasury firm SharpLink, which holds 874,351 ETH valued at around $1.8 billion, will also be reconstituted into the Russell 2000 and 3000 indexes during the same rebalance, while BitMine and Galaxy Digital are expected to join the Russell 1000.
SOL Price Still Has Work To Do Before $100
The Forward Industries development is bullish for Solana in a broad sense, and the price action might react positively when the listings on the indexes go live. However, the problem for SOL is that the price action is not displaying the kind of strength that would make $100 look imminent. SOL is still trading just above $80, which means it needs a rally of more than 20% to move back to $100.
Related Reading: Analyst Says Solana And XRP Investors Are In Trouble, What’s Going On?
Solana has struggled to sustain upside momentum, and every attempt to push higher has had to deal with resistance, with the most recent example being a rejection around $98 on May 11. Should SOL maintain its footing at $85 and clear $90, a move to $98 to $100 may follow.
