Viridi Funds, a registered investment advisor and emerging fund manager offering environmentally friendly cryptographic investment products, today announced the launch of the Viridi Cleaner Energy Crypto-Mining & Semiconductor ETF.
The Viridi Cleaner Energy Crypto-Mining & Semiconductor ETF is an actively managed listed fund focusing on investments in the cryptocurrency mining and mining infrastructure industry. Viridi created RIGZ for a profit-oriented purpose – more and more investors want to gain exposure to the cryptocurrency sector through regulated investment vehicles, but also want to see active leadership and a commitment to environmental sustainability. The Bitcoin mine is an industry that is particularly well-suited to such an investment product, as recent figures show that more than 50% of North American Bitcoin mines are made from renewable energy sources, a trend that Viridi hopes to encourage with products such as RIGZ.1
The fund consists of companies that are connected to the entire cryptocurrency mining and infrastructure area. Companies range from producers of semiconductors and specialized computer circuits to manufacturers of cryptocurrency mining equipment to mining companies that guarantee long-term energy transfer contracts and use this equipment to validate and process digital assets. Although the fund does not invest directly in cryptocurrencies, RIGZ is likely to have indirect exposure to Bitcoin, Ethereum and other cryptocurrencies as many publicly traded miners have these assets on their balance sheets.
Wes Fulford, CEO of Viridi Funds, said: “The importance of Bitcoin and cryptocurrencies continues to grow 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 Miners provide an essential service to cryptocurrency networks, and leading operators are able to produce Bitcoin and other cryptocurrencies at a fraction of the prevailing market prices. As a CEO, with extensive experience in operations and capital markets, we believe we can identify attractive mispriced opportunities through our active management strategy and t reap investors a better return.
“The criteria for owning a mining and infrastructure company are much the same as for an older gold producer – leveraged returns compared to a commodity,” Fulford continued. “We believe that based on recent developments in the Chinese mining industry, North American miners with access to sustainable, affordable electricity, large new generation ships and capital have a good chance of generating higher returns in months and years to come. We are excited to launch RIGZ in such a key position. development of this market sector and prioritize investment in sustainable cryptographic mining practices through Virid’s clean energy focus. “
RIGZ ETF Sub-Advisor Viridi Funds is supported by the most respected groups and brightest minds in the critical currency industry, including CoinShares, Alameda Ventures, Luxor Technology, Fundamental Labs and Mechanism Capital.
Meltem Demirors, Chief Strategy Officer of CoinShares, a listed digital asset investment firm, led the round2 added: “In these times of political and economic uncertainty, asset managers and financial services companies have a responsibility to invest capital in a way that matches clients’ values and preferences to build a portfolio. CoinShares was the first asset manager to research and publish findings on bitcoin energy use as early as 2018, and found The Bitcoin mining industry uses more than 70% renewable energy and it is one of the most sustainable industries on the planet.3 Viridi Funds can help investors separate facts from fiction and create more formal methods for defining and qualifying sustainable investment in the cryptocurrency industry. Our CoinShares team looks forward to working with Viridi Funds to bring new thematic products to market in the coming years. “
In addition to establishing the fund, Viridi will publish a study on the growing cryptocurrency mining and semiconductor space, which will illuminate a space that is considered opaque, providing clear, concise and practical insights for the investment community. The team is dedicated to building financial products that help investors gain exposure to the emerging cryptocurrency sector while supporting and supporting companies striving for a sustainable approach to growth.