【Valkyrie Bitcoin Mining ETF (WGMI) Becomes the Worst Performing Fund of 2025, Down 43% Year-to-Date】

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PANews, March 31 - According to Bloomberg senior ETF analyst Eric Balchunas, CoinShares' Valkyrie Bitcoin Mining ETF (WGMI) has become the worst performing ETF of 2025, down 43% year-to-date. WGMI consists of several publicly listed Bitcoin mining companies, with the largest holding, IREN (15% weight), down 42% this year, followed by Core Scientific (14% weight, down 48%), Cipher Mining (9.6% weight, down 52%), and even the sixth largest holding, NVIDIA (5% weight), which has also dropped over 20% this year. WGMI's investment strategy is to invest in companies that derive at least 50% of their revenue or profits from Bitcoin mining-related businesses; it currently holds 21 companies with a total assets under management of $147.2 million. Bitcoin mining companies are facing significant challenges this year, as network hash rate continues to rise, nearing a historical high of 832 EH/s, leading to a significant divergence between Bitcoin price and hash rate. At the same time, miner rewards are decreasing, and transaction fees are at low levels, further squeezing miners' profit margins.

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