Valkyrie Bitcoin Miners ETF Approved for Tuesday Launch on Nasdaq
Crypto asset manager Valkyrie received approval for its Bitcoin Miners ETF, the exchange-traded fund (ETF) with exposure to the stocks of bitcoin miners.
The fund will invest a minimum of 80% of its net assets in businesses that derive a minimum of 50% of their profit from bitcoin mining and will be available for trading on the Nasdaq Stock Market starting Tuesday under the ticker ‘WGMI.’
In addition, Valkyrie will invest up to 20% of the ETF’s net assets in companies that hold “a significant portion of their net assets” in Bitcoin.
The Asset manager notes that the miners in its portfolio use over 75% renewable energy, significantly more than the average renewable energy usage in the United States of 31%.
With allocations between 8% and 10%, the fund’s top interests are Argo Blockchain (ARBK), Bitfarms (BITF), Cleanspark (CLSK), Hive Blockchain (HIVE) and Stronghold Digital Mining (SDIG). A 4% allocation each is in Marathon Digital (MARA), Bit Digital (BTBT) and Digihost Technology (DGHI).
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Source: igaming
