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The Valkyrie Bitcoin Miners ETF, WGMI (*), debuts on Nasdaq (

). The WGMI exchange-traded fund will invest in companies with 80% of revenue from BTC mining. The fund includes 5 Bitcoin mining companies with 90% renewable energy use. The Valkyrie Bitcoin Miners ETF(WGMI) made its debut on Nasdaq’s stock exchange. This gives investors yet another way to get exposure to crypto through investments in stocks…

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  • The WGMI exchange-traded fund will invest in companies with 80% of revenue from BTC mining.

  • The fund includes 5 Bitcoin mining companies with 90% renewable energy use.

The Valkyrie Bitcoin Miners ETF(WGMI) made its debut on Nasdaq’s stock exchange. This gives investors yet another way to get exposure to crypto through investments in stocks of companies involved in the Bitcoin (BTC/USD) mining sector.

The actively managed exchange-traded funds (ETFs) trade under the ticker symbol WGIMI.

While the fund does not involve direct investment in cryptocurrencies, its holdings are in crypto mining companies with at least 50% of profits derived from Bitcoin mining.

Investments can also be made in crypto-focused businesses that produce mining software or offer crypto-related services for Bitcoin miners.

Invest in regulated Bitcoin mining companies

WGMI has a total cost ratio of 0. 75%, with initial investments in top BTC mining firms and providers.

These include Bitfarms and CleanSpark, Marathon Digital Mining (stronghold mining), Riot Blockchain, Hive Blockchain, Stronghold Mining, Stronghold Mining, Stronghold Mining, Stronghold Mining, Stronghold Mining, Riot Blockchain, Stronghold Mining, Stronghold Mining and Riot Blockchain. Nvidia Corp, Samsung Electronics and Advanced Micro Devices (AMD) are other firms involved in the investment.

Commenting on the companies included in the ETF weighting, Valkyrie CEO Leah Wald noted:

These companies are fully regulated in the same way as other publicly traded companies and provide investors with another avenue for indirect exposure to digital assets.

WGMI portfolio accounts for companies with 77% renewable energy use

Bitcoin Mining is a multibillion-dollar industry. Its growth has seen many top companies around the globe look to tap into this revenue stream. Investors who are looking for opportunities in oil and gold sectors have also been brought into the ecosystem.

Over the years, Bitcoin miners moved to use renewable energy sources like solar, wind, and hydroelectric. This has cut down on fossil fuels, while reducing the controversy about Bitcoin’s huge energy consumption.

Valkyrie said the WGMI portfolio utilises 77% renewable energy, adding to the positive outlook likely to pull in environmentally-conscious investors. The top five companies in the portfolio have a 90% renewable usage, Valkyrie noted in a factsheet.

Where can you buy the WGMI ETF?

According to Valkyrie the ETF and other offerings by the company are available through several providers. The fund can be accessed at Charles Schwab and E-Trade as well as Interactive Brokers, Robinhood, TD Ameritrade, Fidelity and Interactive Brokers.

Image source: Valkyrie

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Bitcoin

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BTC slips amid poor debut for Hong Kong spot ETFs

Bitcoin fell to under $62,000 after spiking past $64,700 earlier as Hong Kong spot Bitcoin and Ethereum ETFs began trading. Data showed trading volumes hit just over $11 million, against expectations of over $3oo million. Bitcoin price fell below $62,000 again amid market reaction to less than encouraging numbers from the first day of trading…


  • Bitcoin fell to under $62,000 after spiking past $64,700 earlier as Hong Kong spot Bitcoin and Ethereum ETFs began trading.
  • Data showed trading volumes hit just over $11 million, against expectations of over $3oo million.

Bitcoin price fell below $62,000 again amid market reaction to less than encouraging numbers from the first day of trading for much hyped spot Bitcoin and Ethereum ETFs in Hong Kong.

BTC was down about 1.4% at the time of writing, having touched lows of $61,587 across major crypto exchanges.

The benchmark cryptocurrency, which has struggled to reclaim key levels since its recent halving event, was seeing a 24-hour trading volume of $28.4 billion.

Bitcoin price and Hong Kong spot ETFs debut

Earlier, Bitcoin price surged to above $64,000 as the six spot Bitcoin and spot Ethereum ETFs went live in Hong Kong.

The flagship cryptocurrency rose to over $64,727 on US-based crypto exchange Coinbase. BTC also soared after reports Hong Kong approved the listing of the ETFs.

NEW: 🇭🇰 Opening ceremony of Hong Kong spot #Bitcoin ETFs 👏 pic.twitter.com/ux1eb5PqRn

— Bitcoin Magazine (@BitcoinMagazine) April 30, 2024

However, as data streamed in showing disappointing trading volumes and inflows, Bitcoin price took a hit. According to details of the six ETFs’s debut day, total trading volume reached just $11 million, not impressive given projections were much higher at over $300 million.

Bitcoin ETFs saw about $8.5 million while Ethereum ETFs recorded just $2.5 million on the first day. Ethereum price fell to $3,040.

Notably, the figures from Hong Kong are way lower compared to those recorded amid the enthusiasm that greeted the launch of spot Bitcoin ETFs in the US in January. On their debut, the US spot BTC ETFs raked in over $4.6 billion in trading volume.

The start to trading for the ETFs has not helped BTC price and BTC could face a slide under the $60k level if sentiment flips negative. On the upside, resistance at $65k remains critical and a breakout could see the bellwether digital asset soar towards its recent peak.


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