Crypto asset manager Valkyrie will have an exchange-traded fund (ETF) with exposure to Bitcoin mining firms available for trading on the Nasdaq Stock Market starting Tuesday.
A spokesperson for Valkyrie told Cointelegraph that the firm’s Bitcoin Miners ETF will begin trading on the Nasdaq on Tuesday under the ticker WGMI. According to a Jan. 26 filing with the Securities and Exchange Commission, the investment vehicle will not offer direct exposure to Bitcoin (BTC), but at least 80% of its net assets will be through securities of companies that “derive at least 50% of their revenue or profits” from BTC mining or providing the hardware or software related to mining. The filing added Valkyrie would invest up to 20% of the ETF’s net assets in companies holding “a significant portion of their net assets” in Bitcoin.