Valkyrie launches trading of Bitcoin Mining ETF shares – Bits Media

United States Securities and Exchange Commission (SEC) approved the launch of Valkyrie Bitcoin Miners ETF. Fund shares, who will invest in mining companies, will begin trading on the Nasdaq exchange today.

According to the document on the regulator’s website, shares of the new ETF will be traded under the ticker WGMI. The fund has an expense ratio 0.75%, At the same time 80% the fund's funds will be invested in companies, who receive at least 50% profits from Bitcoin mining or the production of mining equipment.

The remaining 20% funds can invest in companies, who have significant bitcoin reserves, such, like MicroStrategy or Tesla. The document also emphasizes the fund's commitment to investing in companies, using renewable energy sources for mining.

Was originally selected 5 mining firms, each of which will receive from 8% to 10% Means. We are talking about Argo Blockchain companies (ARBK), Bitfarms (BITF), Cleanspark (CLSK), Hive Blockchain (HIVE) и Stronghold Digital Mining (SDIG). By 4% funds will be received by Marathon Digital companies (MARA), Bit Digital (BTBT) and Digihost Technology (DGHI).

The company filed to launch the Valkyrie Bitcoin Miners ETF at the end of January., so the SEC made a decision quite quickly. Note, that there are already similar ETFs in the USA – Viridi Cleaner Energy Crypto-Mining & Semiconductor ETF (RIGZ) и Bitwise Crypto Industry Innovators ETF (BITQ).