The fund will have the ticker WGMI and will invest in securities of companies that receive at least 50% of the profits from bitcoin mining.
On Tuesday, February 8, an exchange-traded fund (ETF) from Valkyrie Investments with a basket of shares of mining companies will start trading on the NASDAQ stock exchange under the ticker WGMI, Cointelegraph reports .
80% of the fund’s assets are in the securities of companies that receive at least 50% of the profits from bitcoin mining. The remaining 20% of the Valkyrie fund’s assets will be invested in companies with a significant proportion of net assets held in bitcoin.
On February 8, the bitcoin rate for the first time since January 5 exceeded $45.4 thousand, the first cryptocurrency is trading at $44.8 thousand, over the past day it has risen in price by 5%. Growth for the week amounted to more than 16%.
At the end of 2021, several bitcoin futures ETF were launched. The first such fund was Bitcoin Strategy ETF (ticker BITO) by ProShares, which began trading on October 19 on the NASDAQ stock exchange. After that, Bitcoin ETF from Valkyrie Investments (ticker BTF) and VanEck (ticker XBTF) were launched.
