It was October last year when the first Bitcoin ETF based on Proshares futures (BITO) was approved. For investors it was a partial victory because many would have wanted an ETF based on Bitcoin as the underlying and not Bitcoin futures.

The reason for the SEC’s rejection was the excessive volatility of Bitcoin’s price and the possible risks of market manipulation, which are also present in the futures market.

There is therefore no significant news about Grayscale’s request to transform the Grayscale Bitcoin Trust into an ETF to be listed on the stock exchange, which currently contains $26 billion in assets.

The SEC postponed the request, citing the same doubts about risks of market manipulation and fraudulent activities.

But the SEC’s answers are not always negative, and it has approved an instrument proposed by Valkyrie: the Bitcoin Miners ETF whose ticker will be WGMI, an acronym that stands for We’re gonna make it is representative of the shares among the main Bitcoin mining farms listed on the exchange.

In the basket of this exchange traded fund are some of the most important companies dedicated to Bitcoin mining, specifically, companies that use 77% of their production in renewable energy. There is therefore no direct exposure to Bitcoin.

A similar project has been approved by the US regulator and concerns Grayscale, which has launched an ETF that tracks the performance of some of the most important companies in finance, technology and digital assets.

It is called the Grayscale Future of Finance Index (GFOF) and was launched on 1 February.

While waiting for an ETF based on Btc as the underlying asset, projects that feature companies operating in the digital sector are continuing and being appreciated by an increasingly diverse audience.