Crypto-Linked Stocks Surge in Q3: Tom Lee Sees Next Big Trend Emerging

According to Tom Lee, chairman of BitMine, about 20% of the Russell 1000's top gainers in Q3 are crypto-linked stocks. The Russell 1000 is a stock index composed of the 1,000 largest companies by market capitalization in the US stock market.

BitMine ranked fourth among Russell 1000 constituents after gaining 99% since the start of Q3, while Strategy rose 67%, Circle 65%, and Bullish 55%. Lee noted that crypto-linked stocks delivering strong performance could emerge as investors' next area of focus with about a month left before the end of Q3.

The Russell 1000's top gainers are determined by market capitalization, which is calculated based on a company's total outstanding shares multiplied by its current stock price. The index tracks the performance of large-cap stocks in the US market.