The Valkyrie Bitcoin Miners ETF, the exchange-traded fund (ETF) that offers exposure to the stocks of bitcoin miners, received approval from Nasdaq for listing on the exchange under the ticker “WGMI.”
- The fund comes with an expense ratio of 0.75% and is expected to start trading on Tuesday, according to Valkyrie’s spokesperson.
- The fund will invest at least 80% of its net assets in companies that derive a minimum of 50% of their profit from bitcoin mining.
- The fund’s top five holdings (all with allocations in the 8% to 10% range) are Argo Blockchain (ARBK), Bitfarms (BITF), Cleanspark (CLSK), Hive Blockchain (HIVE) and Stronghold Digital Mining (SDIG). Names in the next five holdings (all 4% allocation) include Marathon Digital (MARA), Bit Digital (BTBT) and Digihost Technology (DGHI).
- In keeping with the times, Valkyrie notes the miners in the fund’s portfolio use about 77% renewable energy compared with average renewable energy usage throughout the U.S. of 31%.
- Other U.S.-listed ETFs with heavy exposure to crypto miners include the Viridi Cleaner Energy Crypto-Mining & Semiconductor ETF (RIGZ), and the Bitwise Crypto Industry Innovators ETF (BITQ). Both ETFs had rough starts to the year alongside the steep decline in the price of bitcoin but have been bouncing back in the past few sessions as bitcoin regained its footing. Bitcoin is now above $44,000 for the first time since early January.
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