Nasdaq to list Valkyrie's Bitcoin Miners ETF from February 8

Valkyrie, a cryptocurrency asset manager, is launching an ETF fund with securities of mining companies. Starting February 8, the fund's shares will begin trading on the Nasdaq under the ticker symbol WGMI.

In a statement filed on 02/26/2022 with the SEC, it is said that Valkyrie will not directly invest in bitcoins, but at least 80% of the fund will be used to purchase securities of mining companies.

Moreover, these companies must have at least half of the income from mining or the production and sale of equipment and software for mining BTC.

Another 20% of the fund will be invested in companies that invest in bitcoins and hold a significant portion of net assets in the first cryptocurrency.

This investment venture is very similar to VanEck's Digital Asset Minin ETF offering. True, the SEC decision on the launch of this product has not yet been made. The commission's response will be received by February 14.

Recall that Valkyrie has a successful track record of indirect investments in digital assets through its Bitcoin Strategy ETF fund. Shares of this fund have been traded on Nasdaq since last fall and are now worth $17.

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