The NYSE has approved the listing of a Clean Energy Crypto-Mining and Semiconductor ETF

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Viridi, a licensed investment adviser and emerging fund manager, launched a clean energy encrypted mining and semiconductor exchange-traded fund (ETF) on the New York Stock Exchange on July 20 under the code name RIGZ.

This is the first active management ETF in the United States that focuses on renewable energy encryption mining and the mining infrastructure business. Samsung Electronics, Nvidia, and Advanced Micro Devices are among the semiconductor and professional computer chip makers represented in the fund.

The goal of launching this ETF, according to Viridi Fund, is to help more investors comprehend the burgeoning sector of cryptocurrencies using regulated investing tools.

Individual and institutional investors have long paid close attention to the environmental, social, and governance (ESG) problems raised by cryptocurrency mining. But, according to Viridi, Bitcoin mining is still a good investment because more than half of Bitcoin mining in North America can be done using renewable energy.

To achieve resource sustainability, the cryptocurrency mining sector has also committed to producing environmentally friendly goods.

Viridi Funds’ Chief Executive Officer, Wes Fulford, stated:

“Bitcoin and cryptocurrencies continue to grow in importance, and we are witnessing a new wave of institutional support for this emerging asset class. We launched RIGZ to provide investors with an ETF that attempts to align purpose and profit by investing in the infrastructure that underpins the entire ecosystem with sustainability in mind.”

As a result of China’s increased policing of domestic Bitcoin mining operations, most Bitcoin mining operations in China have allegedly been substantially disrupted due to a loss of electricity and the ability to conduct additional BTC mining activities. As a result, several mining industries in China have opted to relocate to North America.

Cryptocurrency miner BIT Mining Limited, a Shenzhen-based firm, announced on July 14 that it would fund $50 million through a private placement to extend its crypto mining operations to international markets.

Wes Fulford thinks this is a good choice because the old inefficient machinery in China will be shut down. Instead, operations will be relocated to more ecologically friendly areas, and a new generation of more energy-efficient drilling rigs will be used. As a result, Bitcoin mining is becoming less damaging to the environment than in the past.

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