The Valkyrie Bitcoin Miners ETF(WGMI) made its debut on Nasdaq’s stock market. This gives investors yet another way to get exposure to crypto through investments in stocks of companies involved in the Bitcoin (BTC/USD) mining sector.
Actively managed exchange-traded funds (ETFs) trade under the ticker symbol “WGMI.”
The fund is not intended to invest in cryptocurrency directly, but its holdings include crypto mining companies that have at least 50% of the profits from Bitcoin mining.
It is possible to invest in crypto-focused companies that are involved in producing mining software or in providing services related to Bitcoin miners.
Invest in Bitcoin mining firms that are licensed
WGMI has a total cost ratio of 0.75% and initial investments in the best BTC mining companies and providers.
These include Argo Blockchain, Bitfarms, CleanSpark, Marathon Digital Mining, Stronghold Mining, Riot Blockchain and Hive Blockchain. Nvidia Corp, Samsung Electronics, and Advanced Micro Devices are also part of the investment.
Leah Wald, CEO of Valkyrie, comments on the ETF weightings for the companies. noted:
These companies are fully regulated in the same way as other publicly traded companies and provide investors with an additional avenue for indirect exposure to digital assets.
Companies with 77% renewable energy use are eligible to be included in the WGMI portfolio
Bitcoin mining has become a multi-billion dollar business. Many top companies have begun to look into it for revenue streams. Investors looking for opportunities in other sectors, such as oil or gold, are also joining the ecosystem.
Over the years, Bitcoin miners have moved to use green energy sources like wind, solar, and hydroelectric, cutting on fossil fuels and increasingly relegating the debate on Bitcoin’s massive energy consumption to the background.
Valkyrie said the WGMI portfolio utilises 77% renewable energy, adding to the positive outlook likely to pull in environmentally-conscious investors. Valkyrie observed in a report that five of the top five companies in the portfolio have a 90% Renewable usage. factsheet.
Where can I buy the WGMI ETF
Valkyrie says that the ETF and other offerings by the company are available through multiple providers. Access the fund via Charles Schwab (E-Trade), Fidelity Interactive Brokers Robinhood and TD Ameritrade.
Image source: Valkyrie
