{"id":9719,"date":"2023-01-12T10:11:16","date_gmt":"2023-01-12T10:11:16","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=9719"},"modified":"2023-01-12T10:11:17","modified_gmt":"2023-01-12T10:11:17","slug":"bitcoin-mining-etf-tops-equity-etf-market-in-new-years-performance-charts","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=9719","title":{"rendered":"Bitcoin mining ETF tops equity ETF market in new year\u2019s performance charts"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Bitcoin (BTC) and other altcoins started the new year on a bullish note, with most cryptocurrencies surging to multi-month highs.\u00a0Apart from the spot market, the equity exchange-traded fund (ETF) market is also dominated by BTC, wherein Valkyrie\u2019s Bitcoin Miners ETF (WGMI) is the leading equity ETF market and is up by 40% year to date. <\/p>\n<p>The Bitcoin mining ETF is leading the traditional equity ETF market and the leveraged equity ETFs, which is considered a rare occurrence. Bloomberg senior ETF analyst\u00a0Eric Balchunas\u00a0pointed out that the Valkyrie Bitcoin mining ETF is highly \u201cconcentrated,\u201d with investment in only 20 firms, including Argo Blockchain, Bitfarm and Intel, among other notable names.<\/p>\n<p>Cast your vote now!<\/p>\n<p>The WGMI ETF was listed on the Nasdaq in February 2022\u00a0but didn\u2019t invest directly in BTC. 80% of its net assets offer exposure through the securities of companies that derive at least 50% of their revenue or profits from BTC mining. Valkyrie invests the rest of the 20% in companies holding \u201ca significant portion of their net assets\u201d in Bitcoin.<\/p>\n<p><em>Equity ETF market performance. Source: Bloomberg<\/em><\/p>\n<p>The first Bitcoin ETF to be approved in the United States was ProShares Bitcoin Strategy ETF, launched in October 2021, which tracked Bitcoin prices through futures contracts traded on the CME marketplace. The first ETF gained a lot of early market traction, seeing $1 billion in trading volume on its first day. This made many believe that the success would eventually convince regulators to approve the first spot market-based ETF in 2022. However, a prolonged crypto winter and crypto contagions turned the tide against the crypto ETFs. <\/p>\n<p>Cryptocurrency-related ETFs became the two worst-performing ETFs in Australia in 2022, with the same story playing out in the United States. According to ETF.com, the top four worst-performing ETFs in the U.S. in 2022 were crypto-related.<\/p>\n<p><strong><em>Related:\u00a0Grayscale CEO highlights 20% GBTC share buyback option if ETF conversion fails<\/em><\/strong><\/p>\n<p>Crypto ETFs were seen as the next big step for the crypto industry to drive mainstream adoption. However, this was hindered by the prolonged bear market and several negative events in 202. <\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-mining-etf-tops-equity-etf-market-in-new-year-s-performance-charts\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) and other altcoins started the new year on a bullish note, with most cryptocurrencies surging to multi-month highs.\u00a0Apart from the spot market, the equity exchange-traded fund (ETF) market is also dominated by BTC, wherein Valkyrie\u2019s Bitcoin Miners ETF (WGMI) is the leading equity ETF market and is up by 40% year to date. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9720,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-9719","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9719","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9719"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9719\/revisions"}],"predecessor-version":[{"id":9721,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9719\/revisions\/9721"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/9720"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}