Bitcoin

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…

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

Bitcoin

Fed Report Explores How Crypto Price Changes Affect Ownership

A report by the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute found that cryptocurrency ownership declined during market downturns, despite price increases in bitcoin. Data from multiple surveys showed that crypto interest and ownership did not rise, even as prices surged. The report suggests further research into consumer behavior in response to market fluctuations [……
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Bitcoin

The Open Network (TON) to launch teleport Bitcoin bridge

The Open Network announces plans to launch a bridge to get Bitcoin onto the TON blockchain, The bridge will allow Bitcoin to be used for DefI purposes in the TON ecosystem. The TON Foundation announced that the Open Network will launch a trustless bridge to allow people to bridge Bitcoin into the TON ecosystem for…

The Open Network announces plans to launch a bridge to get Bitcoin onto the TON blockchain,
The bridge will allow Bitcoin to be used for DefI purposes in the TON ecosystem.

The TON Foundation announced that the Open Network will launch a trustless bridge to allow people to bridge Bitcoin into the TON ecosystem for DeFi purposes. The bridged Bitcoin, called Teleport BTC, will maintain the original Bitcoin’s security while allowing holders to take advantage of the growing opportunities on TON.

According to the Foundation, each Teleport BTC will be backed 1:1 by native Bitcoin via a trustless, transparent process chiefly executed by verifiable smart contracts and validators.

This new development aims to “enhance Bitcoin’s utility, transforming it into a powerful tool for generating additional rewards on TON.”

TON’s Growth in 2024

The Open Network, closely linked with the popular Telegram messaging app, has been on an upward climb in 2024 both in price and network development. The network was initially created by the Telegram team for internal use but was abandoned and eventually picked up by the community.

TON made major waves after Telegram re-established contact by using the network to power its ad reward system, which pays channel owners in TON (the network’s native cryptocurrency) for traffic and views.

Outside of Telegram, TON is making a name for itself as a social gaming chain with tap-based casual projects like Notcoin and Hamster Kombat garnering attention.

TON’s Growing DeFi Ecosystem

While TON is not primarily known as a network for decentralised finance, its DeFi ecosystem has witnessed a boom in recent months. According to Defillama, a leading on-chain finance data provider, the total value locked on TON currently stands at $745.96 million as of writing after rising significantly from $22 million at the end of February 2024.

The Open Network plans to launch the Teleport BTC bridge later this year.

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Bitcoin

First ETP for Near Protocol’s NEAR token unveiled on Sweden’s Spotlight Stock Market

Valour’s NEAR ETP will be available on Sweden’s Spotlight Stock Market. Valour currently operates one of the largest Solana ETPs. The crypto fund issuer also operates Bitcoin, Ether, and Internet Computer ETPs. Crypto fund issuer Valour today announced the launch of an exchange-traded product (ETP) for Near Protocol’s native token, NEAR. This groundbreaking ETP will be…

Valour’s NEAR ETP will be available on Sweden’s Spotlight Stock Market.
Valour currently operates one of the largest Solana ETPs.
The crypto fund issuer also operates Bitcoin, Ether, and Internet Computer ETPs.

Crypto fund issuer Valour today announced the launch of an exchange-traded product (ETP) for Near Protocol’s native token, NEAR.

This groundbreaking ETP will be available on Sweden’s Spotlight Stock Market, offering retail and institutional investors the opportunity to gain exposure to the decentralized application development platform.

NEAR ETP joins Valour’s diverse portfolio of ETPs

Valour already operates one of the largest Solana ETPs, Valour Solana, and offers a suite of staking products, including ETPs for Bitcoin, Ether, and Internet Computer.

Valour’s head of product, Elaine Buehler, emphasized the significance of this new fund, highlighting its potential to grant investors access to an asset renowned for its transformative impact on decentralized finance (DeFi) and non-fungible tokens (NFTs).

Near Protocol, designed to tackle common blockchain development challenges such as user onboarding and multi-chain operations, boasts a market capitalization of approximately $6.8 billion. This positions NEAR among the top 20 digital assets globally, according to CoinMarketCap.

The launch of NEAR ETP comes amid a wave of regulatory approvals in the United States, where investment managers BlackRock, Franklin Templeton, and VanEck recently received preliminary approval to list the first exchange-traded ETH products. Analysts predict this move will pave the way for more crypto exchange-traded products in the US, including potential Solana-based ETFs.

Valour’s parent company, DeFi Technologies, currently manages around $600 million in assets across various crypto-native strategies.

On July 16, DeFi Technologies expanded its footprint by acquiring trading desk Stillman Digital in an all-stock deal. This acquisition is expected to significantly enhance the Canadian crypto platform’s capabilities, potentially positioning it as a formidable competitor to larger entities like Galaxy Digital.

Valour’s new NEAR ETP represents a significant advancement for investors seeking exposure to innovative blockchain technologies, reinforcing the firm’s position at the forefront of digital asset investment products.