The encrypted mining and semiconductor exchange (ETF), a clean energy company created by registered investment adviser and rising fund manager Virid, was officially traded on the New York Stock Exchange on July 20 under the code name RIGZ.
This is the first active management ETF to focus on clean energy cryptography mining and the mining infrastructure industry in the United States. The fund also includes semiconductor and professional manufacturers such as Samsung Electronics, Nvidia and Advanced Micro Devices.
green fund stated that the purpose of setting up this ETF is to hope that more investors can understand the rising field of the cryptocurrency; better regulated investment vehicles.
The environmental, social and governance (ESG) practices caused by cryptocurrency mining have always received a great deal of attention from individual investors and institutional investors. But Viridi said Bitcoin mining is still a particularly suitable investment sector because more than half of the Bitcoin mines in North America can be made using renewable energy.
The cryptocurrency mining industry is also committed to providing environmentally focused products to achieve resource sustainability.
CEO of Viridi Funds, Wes Fulford, said it:
“Bitcoin and cryptocurrencies the importance continues to grow and we are witnessing a new wave of institutional support for this emerging asset class. We set up RIGZ to provide investors with an ETF that seeks to balance purpose and profit by investing in infrastructure that supports the entire ecosystem in terms of sustainability. “
Enhanced law enforcement against domestic Bitcoin mining for China. Most of the Bitcoin mining sites in China have been reported to be massively lost due to the loss of power supply and capabilities for BTC mining operations. Therefore, many mining industries decided to move from China to North America.
Cryptocurrency miner BIT Mining Limited, a Shenzhen-based company that announced it will raise $ 50 million in private investment to expand its cryptographic mining operations to foreign markets, such as reported by Blockchain.News on July 14th.
Wes Fulford believes this is a wise decision because old inefficient machines will be shut down in China. Operations will be relocated to more environmentally friendly locations and a new generation of more energy-efficient appliances will be used. Therefore, Bitcoin mining is becoming less harmful to the environment than previous damage.
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