Viridi Cleaner Energy Crypto-Mining & Semiconductor ETF (NYSEARCA:RIGZ) is a new crypto mining fund that investors may want to look into.
Luckily, we’ve got a handy list of details that traders will want to know about below!
- Viridi Funds is behind the ETF focusing on cryptocurrency.
- The fund won’t hold crypto directly but will be close to it.
- That’s due to it focusing on semiconductors, crypto mining hardware, and crypto mining companies.
- Some of these companies hold crypto, such as Bitcoin (CCC:BTC-USD) and Ethereum (CCC:ETH-USD), on their balance sheets.
- The new ETF’s looking to promote the use of clean and renewable energy for crypto mining.
- It notes that BTC mining in the U.S. is already done with more than 50% renewable energy.
- Viridi Funds also notes that it’s getting backing from several experts in the cryptocurrency sector.
- Among them are CoinShares, Alameda Ventures, Luxor Technology, Fundamental Labs, and Mechanism Capital.
- To go along with the launch of the RIGZ ETF, Viridi Funds also intends to publish public research into the cryptocurrency mining and semiconductor space.
- The goal here is to provide investors with “lear, concise, and actionable insights.”
Wes Fulford, CEO of Viridi Funds, said the following about the new RIGZ ETF’s launch.
“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.”
RIGZ stock was up 11% as of Monday morning.
We’ve got other cryptocurrency news to check out below!
Crypto continues to be a hot topic among traders and InvestorPlace has all the latest news. That includes the most recent concerning Cardano (CCC:ADA-USD), Ripple XRP (CCC:XRP-USD), and Stellar Lumens (CCC:XLM-USD). You can catch up on all of that at the links below!
More Crypto News for Monday
- Cardano, Smart Contracts, a Twitter Beef and a $50,000 Bet
- XRP Is a Great Altcoin for Your Portfolio Trading At a Discount
- Stellar Lumens Faces a Challenging Short-Term Outlook Despite Bullishness
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.