Nasdaq to list Valkyrie’s Bitcoin Miners’ ETF
The Valkyrie Bitcoin mining exchange-traded fund (ETF) will go live on the Nasdaq exchange on Tuesday, 8 February.
Nasdaq will on Tuesday list the Valkyrie Bitcoin Miners ETF, an exchange-traded fund (ETF) with exposure to Bitcoin mining firms.
This is after the Valkyrie ETF received approval from the exchange, details filed with the US Securities and Exchange Commission (SEC) have shown.
The fund will trade under the ticker symbol "WGMI".
The ETF will have a minimum of 80% of net assets reflected in securities of companies whose revenue or profit from BTC mining makes at least half of their revenue.
The remaining part of the investment ratio will go into companies that have significant Bitcoin holdings as part of their net assets.
The Valkyrie Bitcoin Miners' ETF has Argo Blockchain (ARBK), Hive Blockchain (HIVE), Bitfarms (BITF), Cleanspark (CLSK), and Stronghold Digital Mining (SDIG) as the top five allocations. These stocks have 8% to 10% in asset allocations, according to details shared on Monday.
Crypto mining companies in the next range of 4% asset allocation are Marathon Digital (MARA), Digihost Technology (DGHI) and Bit Digital (BTBT).
The Nasdaq listing for the stock comes amid increased interest in Bitcoin despite the recent price crash. Companies with direct exposure to Bitcoin (on their balance sheets) have increased and those seeking indirect exposure are looking at products such as the Valkyrie offering.
Investors continue to wait for a first spot Bitcoin ETF approval from the SEC.