Valkyrie Funds Announce the Launch of the Valkyrie Bitcoin Miners ETF

Valkyrie Funds announced the launch of Valkyrie Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Miners ETF (Nasdaq: WGMI). The ETF will focus on companies that are associated with the bitcoin mining industry.

Investors are focusing on mining stocks to gain exposure to commodities such as gold and silver. Valkyrie Funds believe bitcoin is not an exception. Bitcoin miners generated revenue was $15 billion (approx.) in 2021. According to the Block, this is more than +200% when compared to 2020.

Leah Wald, the CEO at Valkyrie, said, "Bitcoin miners are an alternative asset class that are rapidly coming into focus for many investors. 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."

Additionally, this is an opportunity for investors that are concerned with the environment. Miners are exploring ways of using green energy. Some of these renewable energy sources include solar, wind and hydroelectric. Aside from the environmental benefits, it is a cheaper source of power than electricity that is generated from fuel.

Focus on Renewable Energy

The funds invest in bitcoin mining companies with 80% holdings and at least 50% renewable energy for mining. None of the funds will directly invest in bitcoin.

This is the third ETF to be offered by Valkyrie Funds to provide investors with access to the 'digital asset space.'

Valkyrie Fund's previous ETF, the Valkyrie Bitcoin Strategy, focuses on bitcoin futures. The ETF received the approval of the SEC as it is not based on spot bitcoin. ETFs that were based on spot bitcoin were rejected by the SEC. A decision on Grayscale's ETF has been postponed twice by the SEC.

Moreover, Bitcoin futures are regulated in the U.S. on the Chicago Mercantile Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (CME).

Valkyrie Funds focuses on providing exposure to the digital space via traditional financial products. Furthermore, the company has great experience in launching multiple ETFs including digital asset funds.