Hi HODLers,
Another good news I just learned recently is that the Valkyrie Capital’s Bitcoin Mining ETF is set to trade on Tuesday on the NASDAQ!
It has been validated by the S.E.C and has probably the coolest NASDAQ ticker: this ETF ticker is WGMI, quite cool right? :D
What differentiates this from other Bitcoin mining ETFs or companies?
This ETF will invest in:
- Companies that use at least 77% renewable energy. According to the application filed at the end of January
- Focused on companies that earn at least 50% of their total profits from Bitcoin mining
Current largest holdings:
- Argo Blockchain,
- Bitfarms,
- Cleanspark,
- Hive Blockchain, and
- Stronghold Digital Mining
Honestly, I was positively surprised as I did not even think there would be more than 2-3 companies meeting the requirements.
This new ETF listing is in response to an increasing demand for exposure to Bitcoin miners.
Exciting and very positive for the long term security of Bitcoin as these companies have now access to capital markets to get some money if they are in financial distressed.
Stay safe out there,