Thursday, March 23, 2023
Bitcoin - Altcoin News
No Result
View All Result
  • Login
No Result
View All Result
Bitcoin News
No Result
View All Result
Home News bitcoin ETF

This Bitcoin ETF Jumped 100% This Month Outperforming All US ETFs

news by news
January 28, 2023
in bitcoin ETF, Bitcoin News, Bitcoin Price Analysis, News, Valkyrie Bitcoin ETF
0
This Bitcoin ETF Jumped 100% This Month Outperforming All US ETFs
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

READ ALSO

Breaking: Terra CEO Do Kwon Arrested In Montenegro Airport

Breaking: SEC Chair Gary Gensler To Appear Before US House Committee

Bitcoin ETF

It’s been a great start to the year 2023 for all Bitcoin investors as the world’s largest cryptocurrency appreciated by more than 33% this month. As of press time, BTC is trading above $23,000 backed by strong bullish momentum. Now, ETFs associated to Bitcoin are also showing strong performance.

Interestingly, the Valkyrie Bitcoin Miners ETF with a ticker of WGMI – We’re Gonna Make It – has surged by a staggering 100% this month making it the best-performing fund for this month. The WGMI ETF is leading by a strong 25 percentage points from its immediate next competitor from the US equity funds.

Courtesy: Bloomberg

The Valkyrie Bitcoin Miners ETF includes mining companies such as Riot Blockchain, Digihost Technologies, Marathon digital Holdings, Bitfarms, and Hive Blockchain Technologies among its top holdings. After a brutal 2022, all of these companies are breathing fresh oxygen in January and have shot to the moon. Speaking to Bloomberg, Mohit Bajaj, director of ETFs at WallachBeth Capital said:

“Bitcoin is up 40% year to date, so that is boosting the demand for the underlying stocks”. Plus, many of those stocks are thinly-traded, “so when there is excess buying, it will cause some higher price deviations.”

As said, with a strong revival of Bitcoin and the overall crypto space, the ETF tracking companies linked to cryptocurrencies have witnessed a promising start. On the other hand, this rally has also provided much-needed relief to Bitcoin miners which have been facing severe operational challenges last year.

Other Crypto ETFs Also Perform Well

Apart from the WGMI Bitcoin Miners ETFs, other funds linked to digital assets have been also doing well this month. This includes the likes of the VanEck Digital Assets Mining ETF (DAM), the Bitwise Crypto Industry Innovators ETF (BITQ), the Global X Blockchain ETF (BKCH), and the VanEck Digital Transformation ETF (DAPP), all of which have jumped by over 60% this month.

The bigger question is that going further into 2023, will the crypto rally continue to sustain considering a tough macro environment. BTC is currently facing the next resistance at $25,000.

The post This Bitcoin ETF Jumped 100% This Month Outperforming All US ETFs appeared first on CoinGape.

Related Posts

Breaking: Terra CEO Do Kwon Arrested In Montenegro Airport
Altcoin News

Breaking: Terra CEO Do Kwon Arrested In Montenegro Airport

March 23, 2023
Breaking: SEC Chair Gary Gensler To Appear Before US House Committee
24/7 Cryptocurrency News

Breaking: SEC Chair Gary Gensler To Appear Before US House Committee

March 23, 2023
Breaking: Jack Dorsey’s Block (SQ) Crashes 20% As Hindenburg Report Accuses Of Fraud
24/7 Cryptocurrency News

Breaking: Jack Dorsey’s Block (SQ) Crashes 20% As Hindenburg Report Accuses Of Fraud

March 23, 2023
Breaking: Hindenburg Research Exposes Jack Dorsey’s Block Inc
24/7 Cryptocurrency News

Breaking: Hindenburg Research Exposes Jack Dorsey’s Block Inc

March 23, 2023
Coinbase CEO Brian Armstrong, CLO Grewal Sold COIN Stocks Ahead Of US SEC Action
24/7 Cryptocurrency News

Coinbase CEO Brian Armstrong, CLO Grewal Sold COIN Stocks Ahead Of US SEC Action

March 23, 2023
Crypto Insider: Another 270% Bitcoin Price Rally Possible in 2023 With New ATH
24/7 Cryptocurrency News

Crypto Insider: Another 270% Bitcoin Price Rally Possible in 2023 With New ATH

March 23, 2023
Next Post
Brain Teaser for Testing Your IQ: Can You Find Solana Coins in the Crowd within 7 seconds?

Brain Teaser for Testing Your IQ: Can You Find Solana Coins in the Crowd within 7 seconds?

POPULAR NEWS

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

December 7, 2022
Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

December 7, 2022
Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

December 17, 2022
Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

December 7, 2022
Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

February 28, 2023

EDITOR'S PICK

Shiba Inu (SHIB), Dogecoin (DOGE) Price Recovers As Bitcoin Price Regains $22k

Shiba Inu (SHIB), Dogecoin (DOGE) Price Recovers As Bitcoin Price Regains $22k

March 13, 2023
Crypto Prices Today: Cardano (ADA), Polygon (MATIC), XRP (XRP), Shiba Inu (SHIB)

Crypto Prices Today: Cardano (ADA), Polygon (MATIC), XRP (XRP), Shiba Inu (SHIB)

February 24, 2023
Big Reason To Worry For The Terra Luna Classic (LUNC) Community

Big Reason To Worry For The Terra Luna Classic (LUNC) Community

February 19, 2023
Cardano News Updates: Price Surges Over 25% In The Week

Cardano News Updates: Price Surges Over 25% In The Week

January 12, 2023
Bitcoin - Altcoin News

© 2022 coingger.com

Navigate Site

  • Europe
  • Exchange
  • Elon Musk
  • ETH Price
  • crypto Tax U.S.
  • CZ
  • Crypto Miners
  • BTC Price
  • ChatGPT
  • China crypto
  • Coingecko
  • Binance Smart Chain
  • Bitcoin $100K
  • Airdrop

Follow Us

No Result
View All Result
  • Homepages
    • Home Page 1

© 2022 coingger.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In