There’s been a lot of buzz surrounding the first crypto-linked ETF in recent days. It isn’t the only crypto-related ETF to be on the New York Stock Exchange, though.
Back in July, Viridi funds launched an ETF that focuses on investments related to cryptocurrency mining and related mining infrastructure businesses. While there’s no direct link with bitcoin and other cryptos, the two are closely intertwined. If crypto is to have a bright future, then it’ll be mining hardware, mining companies, and semiconductors that make it possible. It’s these sectors that the ETF will target.
What is the RIGZ ETF?
There hasn’t been too many crypto news for investors to get excited about over the years. The introduction of the new bitcoin-focused ETF futures will be appreciated, particularly given the earlier launch of the RIGZ ETF. The ETF aims to make the widespread adoption of cryptocurrency more viable.
One of the main arguments against bitcoin today is that it’s extremely energy intensive. But the RIGZ ETF aims to change that. They note that 50% of bitcoin mining is currently conducted using sustainable energy sources. Through their investments, they aim to promote companies that can increase the figure. The goal, from the investors’ point of view, is to align profit with purpose.
Strong Performance from RIOT and MARA
There were some big names that appeared on the RIGZ ETF. As expected, MARA — Marathon Digital Holdings INC Com — fared well, representing some 14% of the net assets. The HUT 8 MNG CORP NEW COM also ranked highly on the list, with some 18.63% of assets.
There are several well-known firms on the fundholding report from the RIGZ ETF. MIGI listed by an ETF is great news, but what’s interesting is that MIGI also appears ahead of many more established names on the list. It ranks in 11th place and accounts for some 4% of the ETF. MIGI is ranked higher than some of the industry’s biggest names, such as Riot, Galaxy, and Northern Data.
The news that MIGI appears on the RIGZ ETF is welcome but unsurprising news. After all, there has been plenty to celebrate in recent months. In early October, MIGI closed a $450 million underwritten public offering and completed Nasdaq Uplist. Later in October, Mawson announced that they were buying 4000 latest generation Canaan and MicroBT ASIC bitcoin miners. This purchase meant that Mawson would be able to operate at 11.7% greater capacity. This is even more impressive, given that MIGI has only been in operation since 2019. Today, we have operations in the United States and Australia and has more than 1GW of qualified power infrastructure pipelines.
To the Future
MIGI’s prospects are looking bright. The steadfast progress backed by a solid team with deep experience and knowledge across energy, infrastructure, technology and financial markets indicate that it will have a successful future. When it comes to digital assets combined with energy-efficient infrastructure, Mawson is quickly establishing itself as a leader. With the world transitioning from traditional markets to a digital asset industry, our company aims to bridge the gap.