New ETF leverages crypto miners and ESG
The actively managed ETF offers the narrowest of investment themes: a leveraged play on Bitcoin with the added twist of being easy on the planet.
July 21, 2021 2 MINS
As thematic investing strategies go, it doesn’t get much narrower than this: an exchange-traded fund concentrating on between 30 and 50 cryptocurrency miners that also pass muster for environmental, social and governance criteria.
“It’s a thematic niche play within the Bitcoin ecosystem; this is an essential service,” said Wes Fulford, chief executive of Viridi Funds.
While the actively managed ETF doesn’t directly own cryptocurrencies, it’s designed to operate as a leveraged play on cryptocurrencies including Bitcoin because, as Fulford explained, when the price of Bitcoin goes up by 10%, the operational expenses for miners don’t change, which means the mining stocks could go up 20% or 30%.
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