RIGZ, the new crypto mining & semiconductor ETF, is up nearly 15% in 48 hours
Jul. 21, 2021 5:32 PM ETBTC-USD, ETH-USD... Hut 8 Mining Corp. (HUT) Marathon Digital Holdings, Inc. (MARA) By: Jason Capul, SA News Editor
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The Viridi Cleaner Energy Crypto-Mining & Semiconductor ETF (NYSEARCA: RIGZ), which was launched on Tuesday of this week, has come out of the gates firing on all cylinders. The ETF was the top-performing exchange traded fund on Wednesday, closing +9.68% and +14.21% over its first two trading days.
RIGZ, which provides market participants with exposure to the cryptocurrency mining industry and indirect exposure to crypto-assets such as bitcoin ( BTC-USD) and ethereum ( ETH-USD), was launched at a perfect time with bitcoin hinging on the 30K fulcrum.
Top holdings in Marathon Digital (NASDAQ: MARA) and Hut 8 Mining Corp (NASDAQ: HUT) have helped propel RIGZ forward as the two stocks are +14.19% and +13.55% over the past two trading days.
Further fueling RIGZ was the "B Word" event, where heavy hitters Elon Musk, Cathie Wood, and Jack Dorsey endorsed the future of the cryptocurrency space.
For investors unaware of RIGZ, it's an actively managed exchange traded fund that trades on the NYSE, comes with 20 holdings and an expense ratio of 0.90%. See the complete fact sheet on RIGZ.
As of Wednesday after the close, bitcoin is +6.70% and trading at $31,712, while ethereum is +8.68% and trading at $1,942.
The "B Word" event provided crypto advocates with the support that space will be here into the future. As Cathie Wood stated, "our focus on disruptive innovation" attracted ARK to bitcoin and cryptocurrency in general. |
