For all Bitcoin investors, 2023 has gotten off to a terrific start as the largest cryptocurrency in the world increased in value by more than 33% this month. BTC is currently trading above $23,000 with significant positive momentum as of the time of publication. ETFs related to bitcoin are now performing well as well.
Valkyrie Bitcoin Miners ETF, has risen by an amazing 100% this month, making it the best-performing fund for the period. According to Bloomberg, WGMI’s January rise has put it around 25% ahead of the second-best performance. Riot Blockchain, Digihost Technologies, Marathon digital Holdings, Bitfarms, and Hive Blockchain Technologies are a few of the top holdings in the Valkyrie Bitcoin Miners ETF.
WGMI began trading on Monday at US$9.14, 66% below its all-time high of US$26.68 reached in February 2022.
Other funds connected to digital assets, aside from the WGMI Bitcoin Miners ETFs, have also performed strongly this month. This includes securities such as the Bitwise Crypto Industry Innovators ETF (BITQ), the Global X Blockchain ETF (BKCH), the VanEck Digital Assets Mining ETF (DAM), and the VanEck Digital Transformation ETF (DAPP), all of which have increased by over 60% this month.
Naren is a finance graduate who is passionate about cryptocurrency and blockchain technology. He demonstrates his expertise in these subjects by writing for cryptoetf.in. Thanks to his finance background, he is able to write effectively about cryptocurrency.