On Feb 8, the Nasdaq stock market is going to list exchange-traded funds (ETF) from crypto asset management Valkyrie that will monitor the Bitcoin mining firms. Valkyrie ETF will use the ticker “WGMI” for trade on Nasdaq.
The ETF from Valkyrie will not track Bitcoin directly, but it will keep nearly 80% net assets from securities of crypto firms that generate a minimum of 50% of their revenue from Bitcoin mining or delivering hardware or software for Bitcoin mining.
Valkyrie filed with the Security and Exchange Commission for this ETF last month on Jan 26. As per the filing, Valkyrie would have invested up to 20% of the ETF’s net assets in crypto firms, which is a notable proportion of their net asset in Bitcoin.
Valkyrie ETF is similar to digital asset mining ETF proposal asset manager VanEck last year. The asset manager approached the Security and Exchange Commission to invest 80% of its assets in securities from crypto mining firms. The deadline for this filing has been extended to Feb 14.
Last year, Valkyrie marked its name as the first asset manager after launching the Bitcoin strategy ETF to offer indirect exposure to crypto-assets in October. Currently, this ETF is trading on the Nasdaq for nearly $17.01.
