Valkyrie's Green Bitcoin mining ETF hits Nasdaq amidst rising BTC adoption
- Valkyrie Investment group's Bitcoin Miners ETF went live on Nasdaq, following approval from the SEC.
- Bitcoin adoption hit a peak in January, investors sought exposure to BTC miners.
- Valkyrie's Bitcoin futures and Balance Sheet Opportunities ETFs have positively influenced BTC adoption in institutions.
- Proponents believe institutional adoption has fueled a bullish outlook on Bitcoin among traders.
Valkyrie Investment Group's latest environmental ETF arrived on Nasdaq. Bitcoin's price recovered from the bloodbath over the weekend as adoption of the asset continues to rise.
Green Bitcoin mining ETF arrives on Nasdaq for investors
Valkyrie Investments have launched several Bitcoin ETFs on Nasdaq. The latest one is a green Bitcoin mining ETF focused on firms that use a minimum of 77% renewable energy. The Securities & Exchange Commission recently approved Valkyrie's Bitcoin Miners ETF.
The Valkyrie Bitcoin Miners ETF started trading under the ticker WGMI on Nasdaq. Bitcoin has been criticized for its energy use throughout 2021. Valkyrie's ETF, therefore, offers stocks of various Green Bitcoin mining firms, taking a step in the direction of institutional capital inflow to sustainable miners.
80% of the ETF's assets would be invested in companies that derive over 50% of their profits from Bitcoin mining. Valkyrie Investment emphasizes mining Bitcoin sustainably.
Earlier today, Bitcoin price hit a one-month high and pulled back. Proponents have noted that the spike in Bitcoin's adoption is related to the rise in institutional capital inflow and bullish sentiment of investors.
The addition of Bitcoin to the balance sheets of institutions like KPMG Canada and the launch of Valkyrie's Bitcoin Miner ETF have fueled a bullish narrative among institutional investors.
Analysts have evaluated the Bitcoin price trend and predicted the continuation of the uptrend on crossing $44,000. @WalterCripto, on the other hand, believes that a drop could make Bitcoin price plummet to $40,000.
So, plan for $BTC still the same, please see this threadhttps://t.co/gZxKCA1z2n
— Walter - TREND RIDER (@WalterCripto) February 8, 2022
FXStreet analysts believe Bitcoin price could stumble as it targets $50,000.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
