Valkyrie’s Nasdaq-listed Bitcoin Miners exchange-traded fund (ETF), WGMI, has been the best-performing U.S. fund of 2023 so far, rising over 105% in January.
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- WGMI’s January rally puts it roughly 25% ahead of the second-best performer, according to Bloomberg.
- WGMI, a popular acronym for “We’re Gonna Make It” among crypto traders, tracks the performance of cryptocurrency mining companies. The fund has Hive Blockchain Technologies Ltd, Digihost Technology Inc., Bitfarms Ltd, Marathon Digital Holdings Inc., Riot Platforms Inc. and Hut 8 Mng Corp. in its holdings.
- WGMI opened Monday’s trading day at US$9.14 on Monday, which is 66% lower than its all-time high of US$26.68 set in February 2022.
- VanEck’s Digital Assets Mining ETF (DAM) and Digital Transformation ETF (DAPP), and the Global X Blockchain ETF (BKCH), which are also crypto-related ETFs, were up by at least 60% in January.
- Bitcoin mining difficulty hit a new all-time high on Sunday as it rose 4.68% in its latest difficulty adjustment.
- Bitcoin was trading at US$23,113, down 1.9% in the 24 hours to 10:45 p.m. in Hong Kong, after it reached a five-month high of US$23,918 overnight.
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