WGMI ETF began trading on Nasdaq after being just announced yesterday. Is this a sign more crypto ETFs are coming? Also, how amazing is it that there is a WGMI ETF?  Covered: Valkyrie Mining WGMI ETF Commences Trading Crypto Market Cap Valkyrie Mining WGMI ETF Commences Trading Crypto-focused investment fund Valkyrie announced yesterday the roll […] The post WGMI ETF Opens In The Green, Crypto Market Cap Over 2 Trillion appeared first on CryptosRus.

WGMI ETF Opens In The Green, Crypto Market Cap Over 2 Trillion

WGMI ETF began trading on Nasdaq after being just announced yesterday. Is this a sign more crypto ETFs are coming? Also, how amazing is it that there is a WGMI ETF? 

Covered:

  • Valkyrie Mining WGMI ETF Commences Trading
  • Crypto Market Cap

Valkyrie Mining WGMI ETF Commences Trading

Crypto-focused investment fund Valkyrie announced yesterday the roll out of their The Valkyrie Bitcoin Miners ETF. It began trading today on Nasdaq under the inside joke ticker symbol WGMI. The results have been up and down so far.

After opening the first half hour of trading up 1%, and reaching a high of $26.53 USD, WGMI has since fallen to 1% under its its initial opening price of $25.94.

The results for WGMI are a bit underwhelming, unlike the ProShares Futures ETF debut, but that doesn’t mean crypto ETFs aren’t here to stay.

“Crypto ETFs’ have retained their trading volume, and much of their inv base in the face of a brutal 50% drawdown. This is a great sign for their staying power and growth potential,” Bloomberg Analyst Eric Balchunas said the other day via Twitter. 

The Valkyrie Bitcoin Miners ETF includes such Bitcoin miners as Hive, Argo, and Marathon. The fund promises that their miners use at least 77 percent renewable energy.

Recommended: Valkyrie Digital Assets Adds Algorand Trust To Portfolio

Crypto Market Cap

Some of Valkyrie Bitcoin Miners ETF’s performance can be attributed to a down day in the overall crypto market.

Overall, the crypto market cap has fallen slightly (1.5%) after yesterday’s very strong performance. Still even after falling, the market cap is over 2 trillion, sitting in the 2.05 trillion range (Source: CoinGecko) as of press time.

To put it in perspective, just five days on February 3rd, the total market cap fell to 1.67 trillion. So, the market is in a far more healthier position overall.

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