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The Valkyrie bitcoin mining exchange-traded fund will be listed on Nasdaq tomorrow on opening day, according to a spokesman for the issuer.
Valkyrie filed a post-effective amendment for the Valkyrie Bitcoin Miners ETF on Jan. 26 and then requested an immediate acceleration of the effective date. Nasdaq joined the call today as the exchange approved the fund’s listing. It will start trading tomorrow at the open under the ticker “WGMI”.
The fund will invest in public companies in the bitcoin mining industry. He does not directly own bitcoin, but invests in firms such as Argo, Bitfarms, Hive, and Marathon. He can invest up to 20% of his net assets in firms that hold cryptocurrency on their balance sheet.
In addition, its fact sheet states that 80% of its assets will be owned by firms that use at least 50% renewable energy for their mining activities.
WGMI is the third in a series of digital asset-focused ETFs the issuer plans to offer. Last October, he successfully launched the Bitcoin Futures ETF, as well as the Valkyrie Balance Sheet Opportunities ETF, which invests in publicly traded Bitcoin firms.
The Spot Bitcoin ETF has yet to hit the market due to multiple rejections from the Securities and Exchange Commission, including in regards to Valkyrie’s own offering.
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