Valkyrie Bitcoin Miners ETF Soars 107% in Q1 2023

The WGMI fund, specializing in investments in mining companies, became the most successful ETF in Q1 2023. The 107% growth reflects the recovery of the cryptocurrency sector.

The Valkyrie Bitcoin Miners ETF (WGMI) became the best-performing no-leverage ETF in Q1 2023, demonstrating a growth of 107%.

Listed on Nasdaq, the WGMI ETF focuses on investing in listed companies engaged in Bitcoin mining. The ETF aims to offer investors exposure to the Bitcoin market through a traditional exchange-traded fund structure.

The acronym WGMI stands for “We Are All Gonna Make It,” a phrase commonly used within the crypto community to foster trust and optimism despite the volatility of the cryptocurrency market.

In February 2022, the WGMI ETF received approval from the US Securities and Exchange Commission. Unlike ETFs based on spot Bitcoin or futures, WGMI is grounded in publicly traded Bitcoin mining farms, with mining companies using 77% renewable energy for production. The strong Q1 2023 performance of the Valkyrie Bitcoin Miners ETF also reflects the ongoing bull run of Bitcoin.