Valkyrie Funds launches the Valkyrie Bitcoin Miners ETF (WGMI) focused on publicly traded companies in the Bitcoin mining industry
WGMI will trade on Nasdaq
Feb 08, 2022, 09:02 ET
NASHVILLE, Tenn., Feb. 8, 2022 /PRNewswire/ -- 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.
The Valkyrie Bitcoin Miners ETF (WGMI) is an actively managed ETF. The Fund seeks to provide investors with capital appreciation. There can be no assurance that the Fund will achieve its investment objective.
This press release does not constitute a recommendation of any investment strategy or product for a particular investor. Investors should consult a financial advisor/financial consultant before making any investment decisions.
Investing involves risks. The loss of principal is possible. The Fund's investment objectives, risks, charges and expenses should be considered before investing. The fund may not be suitable for all investors. The prospectus contains this and other important information, and it may be obtained at https://valkyrie-funds.com/. Read it carefully before investing
Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Any applicable brokerage fees and commissions will reduce returns.
The Fund invests in publicly traded companies. The Fund does not invest directly in or hold bitcoin. The price of these companies should be expected to differ from the current price of bitcoin. As a result, the performance of the Fund should be expected to differ from the performance of the spot price of bitcoin.
The Fund is distributed by ALPS Distributors, Inc.
This is a new ETF with limited operating history.
Bitcoin is a relatively new asset class that is subject to unique and substantial risks and, historically, has been subject to significant price volatility. The value of an investment in
the Fund could decline significantly and without warning, including to zero. You should be prepared to lose your entire investment.
The Shares will change in value, and you could lose money by investing in the Fund. The Fund may not achieve its investment objective.
The price of bitcoin has historically been highly volatile. The value of the Fund's investments in companies that invest in bitcoin futures and are involved in the crypto asset ecosystem – and therefore the value of an investment in the Fund – could decline significantly and without warning, including to zero. If you are not prepared to accept significant and unexpected changes in the value of the Fund and the possibility that you could lose your entire investment in the Fund you should not invest in the Fund.
Chief Communications Officer, Valkyrie Investments
SOURCE Valkyrie Investments
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