The Valkyrie Bitcoin Miners ETF (WGMI) has made its debut on the Nasdaq stock market, giving investors another opportunity to gain exposure to crypto through investing in stocks of companies in the bitcoin (BTC-USD) mining industry.
An actively managed exchange-traded fund (ETF) trades under the ticker symbol WGMI.
While the fund does not include direct investments in cryptocurrencies, its holdings are in crypto mining companies, with at least 50% profit derived from bitcoin mining.
Investments are also made in crypto-focused companies that operate in the production of mining hardware and software, or that specialize in offering crypto-related services to bitcoin miners.
Invest in regulated bitcoin mining companies
With initial investments in top BTC mining firms and providers, WGMI comes with an overall expense ratio of 0.75%.
These include Argo Blockchain, Bitfarms, CleanSpark, Marathon Digital Mining, Citadel Mining, Riot Blockchain and Hive Blockchain. Other companies in the investment are Advanced Micro Devices (AMD), Nvidia Corp. and Samsung Electronics.
Valkyrie CEO Leah Waldo, Commenting on the Companies Involved in ETF Lifting famous,
,These companies are fully regulated in the same way as any other publicly traded company, and provide another opportunity for investors to gain indirect exposure to the digital asset space.,
WGMI portfolio accounts for companies with 77% renewable energy use
Bitcoin mining is a multi-billion industry and its growth has seen many top companies around the world tap into the revenue stream, providing ecosystem investors with opportunities in sectors such as oil and gold.
Over the years, bitcoin miners have moved to use green energy sources such as wind, solar and hydroelectricity, cutting back on fossil fuels and increasingly removing the debate over bitcoin’s enormous energy consumption in the background.
Valkyrie said The WGMI portfolio uses 77 percent renewable energy, increasing the potential for a positive outlook among environmentally conscious investors. The top five companies in the portfolio have 90% renewable use, Valkyrie noted in a fact sheet,
Where Can You Buy WGMI ETFs?
According to Valkyrie, ETFs, as with others offered by the company, are available through a number of providers. You can access funds at Charles Schwab, E-Trade, Fidelity, Interactive Brokers, Robinhood and TD Ameritrade, etc.
image Source: Valkyrie