• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America

Valkyrie Bitcoin Mining ETF “WGMI” Approved For Nasdaq Listing

Taylor Scott by Taylor Scott
1 year ago
in Cryptocurrency Market News
Reading Time: 2 mins read

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 20% of the ETF’s net assets will be allocated towards firms that hold “a significant portion of their net assets” in Bitcoin and crypto. The ETF will carry a 0.75% expense ratio.

Related Reading | Bitcoin On Track To $50K, Why BTC Whales May Blaze The Trail

Bitcoin has been showing strong signs of righting the ship after a tough start to the new year. Will Valkyrie's latest ETF, and other publicly-traded securities help bolster adoption? | Source: BTC-USD on TradingView.com

What We Can Expect

WGMI is the third in line for Valkyrie’s now-accepted ETFs, following behind the firm’s broad Bitcoin futures ETF and “Balance Sheet Opportunities ETF,” which holds firms that “directly or indirectly invest in, transact in, or otherwise have exposure to bitcoin.”

While we know that this new Valkyrie ETF won’t possess direct crypto holdings, expect some of the biggest mining names to make the cut, such as Hive, Bitfarms, Marathon and more. With the 20% allocated towards firms with substantial net assets in Bitcoin, we could also see the likes of MicroStrategy and other major players make the WGMI holdings. Additionally, the fund has noted that the firm’s holdings use about 77% renewable energy, double the average of common publicly-traded companies.

Related Reading | The Bear Signal That Suggests Another Bitcoin Crash Is Coming

Featured image from Pixabay, Charts from TradingView.com
The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.
Tags: bitcoinetffuturesminingvalkyrie
Tweet123Share196ShareSend
Taylor Scott

Taylor Scott

Taylor specializes in crypto activity across sports and entertainment. With nearly a decade of engagement with cryptocurrency, Taylor has spent several years working in talent representation with musicians, comedians, and speakers, and achieved a Sports Business MBA in 2020.

Related Posts

Kings of Crypto: HedgeUp (HDUP) Gain 300% in Presale, Whales swim from Shiba Inu (SHIB) and Dogecoin (DOGE)

Kings of Crypto: HedgeUp (HDUP) Gain 300% in Presale, Whales swim from Shiba Inu (SHIB) and Dogecoin (DOGE)

2 days ago
Uniswap

Why This Signal Means Uniswap’s Bear Run Is Almost Over

2 days ago
Chainlink (LINK) Price Struggles to Build Momentum, Investors Divert to Filecoin (FIL) and HedgeUp (HDUP)

Chainlink (LINK) Price Struggles to Build Momentum, Investors Divert to Filecoin (FIL) and HedgeUp (HDUP)

2 days ago
Bitcoin (BTC)

JPMorgan Predicts Bitcoin (BTC) To Revisit $45,000, Here’s Why

2 days ago
Bitcoin

Bitcoin Exchange Inflows Mostly Coming From Loss Holders, Weak Hands Exiting?

2 days ago
The Dark Side of Meme Coins – Why Useless Shitcoins Are Bubbles Waiting to Burst

The Dark Side of Meme Coins – Why Useless Shitcoins Are Bubbles Waiting to Burst

2 days ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • Litecoin and Polkadot Investors Jump on InQubeta (QUBE)...

    56 mins ago
  • Here’s Why AI Investors Are Flocking to the...

    6 hours ago
  • Arbitrum (ARB) Anticipates 5-10% Upsurge in Bullish...

    6 hours ago
  • Anticipation for Litecoin (LTC) Halving Event Amplifies as...

    6 hours ago
  • Ledger faces backlash investors are moving their funds to...

    16 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.