Getting into Bitcoin? The cryptocurrency may be seeing increased interest with U.S. elections on the horizon.
Spot bitcoin ETFs exploded onto the scene this year. Since the start of the year, the price of bitcoin has risen from about $42,000 to more than $60,000 as spot strategies have grown.
The mining economics of validating Bitcoin transactions have deteriorated since the April block reward halving. Hash price continues to make new lows. WGMI is an actively managed ETF that aims to offer investors broad exposure to the Bitcoin mining industry. The fund has high turnover and concentration compared with other crypto-equity ETFs.