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Nasdaq will list Valkyrie Bitcoin Mining ETF “WGMI”

2022-02-08 02:01
Nasdaq will be listing a new exchange-traded fund (ETF) from Crypto asset management firm Valkyrie today.
After receiving the approval from the SEC, Valkyrie's 'Bitcoin Mining ETF' will begin trading on Nasdaq under the ticker symbol "WGMI," a short form of the famous crypto phrase, "we're gonna make it."
The fund comes with an expense ratio of 0.75% and will invest in public companies in the bitcoin mining industry; 80% of its holdings will utilize at least 50% renewable energy for their mining activities.
While it doesn't hold bitcoin directly, it may invest up to 20% of its net assets in firms that hold the cryptocurrency on its balance sheet.
Valkyrie CEO Leah Wald explained that "increased investor interest and desire for bitcoin miners" drove the company to make an application to the SEC on Jan. 26 to issue an exchange-traded fund.

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