Approval of an ETF “Valkyrie Capital” that tracks companies that use clean energy in mining

Approval of an ETF “Valkyrie Capital” that tracks companies that use clean energy in mining

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Answer Approval of an ETF “Valkyrie Capital” that tracks companies that use clean energy in mining

Valkyrie Capital’s Bitcoin Mining ETF focused on renewable energy bitcoin mining companies has been approved.

The approval was made by the US Securities and Exchange Commission, and the live broadcast of the fund’s trading will begin today, Tuesday, on the Nasdaq Stock Exchange, under the name “WGMI”, which is a common abbreviation in crypto circles.Wfrazzle gUna Mmore It” meaning “we will.”

The Valkyrie Capital ETF focuses primarily on companies that use at least 77% of renewable energy in their mining operations.

According to the order announced at the end of January, 80% of ETF assets are focused on companies that earn at least 50% of their total profits from bitcoin mining, which requires massive amounts of energy as miners in the network compete to solve their complex puzzles to earn bitcoin and help Blockchain insurance.

Read:Russian law legalizes cryptocurrency mining under an experimental legal regime

Valkyrie Capital’s Bitcoin Mining ETF tracks the stocks of mining companies such as:

Argo Blockchain, Bitfarms, Cleanspark, Hive Blockchain, Stronghold Digital Mining.

In a recent interview, Valkyrie Capital CEO Leah Wald stated that investors have an increased focus and desire to learn about the bitcoin mining industry.

Wald also cited the exodus of bitcoin miners from China to places like upstate New York and Washington as another reason behind launching the new ETF.

According to the SEC report, Bill Cannon, former managing director of Guggenheim Partners, is Valkyrie’s head of ETF portfolio management, and Stephen McClurg is the founder of blockchain firm Theseus Capital and Valkyrie’s chief investment officer. .

Valkyrie’s Bitcoin Mining ETF is the latest ETF in a wave of crypto-focused ETFs.

Earlier this month, Grayscale announced an ETF focused on crypto and financial technology companies.

But not all recent ETF attempts focused on the cryptocurrency market have been successful, as last month the Securities and Exchange Commission (SEC) rejected applications from Fidelity, First Trust Advisors and Skybridge for spot market bitcoin ETFs.

It seems that companies’ interest in cryptocurrencies is on the rise, as the Canadian division of the accounting and auditing firm KPMG has just announced that it has invested in both Bitcoin and Ethereum, which we discussed in previous articles on Arab Bitcoin.

Read:Binance will donate all cryptocurrency listing fees to charities

Read also:

Report: Cryptocurrency exchange hack represents significant revenue for North Korea

Long-Term Bitcoin Holders Increase Their Bitcoin Stocks After Price Rise Above $40K

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