Valkyrie Funds, LLC (“Valkyrie”), an emerging investment manager focused on the digital asset class, is excited to announce the launch of the Valkyrie Bitcoin Miners ETF (Nasdaq: WGMI), an exchange traded fund (ETF) that aims to invest in public companies in the bitcoin mining industry.
Mining stocks have long been an option for those seeking exposure to assets such as gold, oil, silver, etc, and Bitcoin is no different. In 2021, the industry generated $15 billion in revenue, according to The Block, growth of more than 200 percent from the year prior and evidence that the sector may benefit as adoption of digital assets continues to accelerate. Additional proof of growing interest in this space can be found in a number of Wall Street banks recently initiating analyst coverage of publicly traded miners.
“Bitcoin miners are an alternative asset class that are rapidly coming into focus for many investors,” said Leah Wald, CEO at Valkyrie. “These companies are fully regulated the same as any other publicly traded company, and offer investors yet another avenue to gain indirect exposure to the digital asset space.”
Another aspect to Bitcoin mining is the opportunity for environmentally-conscious investors to take advantage of these companies increasingly using renewable energy sources such as wind, solar, and hydroelectric, especially those that relocated last year from China to the United States. Miners are increasingly looking to use green energy because it helps the environment, and also tends to be cheaper than electricity generated from fossil fuels.
The goal of this actively managed fund is to provide investors with total return by investing in public companies in the bitcoin mining industry. The fund invests primarily in public companies in the bitcoin mining industry, with 80 percent of holdings utilizing at least 50 percent renewable energy for mining. The fund does not invest directly in bitcoin.
This fund is the third in a family of ETFs planned to be offered by Valkyrie Funds designed to enable investors to participate in the digital asset space.
About Valkyrie Funds LLC
Valkyrie Funds LLC (“Valkyrie Funds”) is a specialized alternative financial services firm at the intersection of traditional finance and the emerging digital asset sector whose affiliates aim to offer asset management, research and other services. Headquartered in Nashville, Valkyrie Funds aims to provide exposure to the digital economy through traditional financial vehicles. Valkyrie Funds is led by seasoned asset managers who have previously launched multiple ETFs, publicly traded funds and Exchange Traded Products, including digital asset funds with backgrounds across Guggenheim Partners, UBS, Chicago Board of Trade, Chicago Mercantile Exchange, and The World Bank.
