Crypto asset management firm Valkyrie will have a new exchange-traded fund (ETF) listed on the Nasdaq this week. The stock exchange will be listing Valkyrie’s new ‘Bitcoin Mining ETF,’ an investment vehicle that will supply assets that provide exposure to company securities “deriving at least 50% of their revenue or profits” from Bitcoin or crypto mining, or hardware and software related to crypto mining. Valkyrie… Going To Make It? Spot Bitcoin and crypto ETFs are yet to hit the market in the U.S., hampered by the SEC’s timid approach on accepting such ETFs. However, in recent months, the SEC has finally become warm to the idea of future’s ETFs, starting with the ProShares ETF and VanEck Bitcoin ETF. Last October was indeed a monumental month for publicly-traded markets and crypto, with Valkyrie joining the likes of ProShares, Invesco, and several other investment firms that sought out crypto-focused ETF offerings. Valkyrie’s latest ETF, ‘WGMI’ (an homage to famed crypto phrase, “we’re gonna make it”), will start trading at the opening bell for the Nasdaq beginning tomorrow, Tuesday February 8th. Valkyrie has established that 80% of portfolio holdings in the ETF will reflect securities of firms that are generating a majority of their revenue or profit from crypto mining, or from hardware and/or software related to crypto mining. The remaining ...
