ETF Launches: RIGZ

A newcomer launches a cleaner bitcoin industry ETF.

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Reviewed by: Heather Bell
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Edited by: Heather Bell

 


FEATURED ETF
RIGZ  Viridi Cleaner Energy Crypto-Mining & Semiconductor ETF

In July, a few months after Tesla CEO Elon Musk sparked a plunge in Bitcoin prices with his tweets about the extreme fossil fuel usage related to Bitcoin mining, Viridi funds rolled out the Viridi Cleaner Energy Crypto-Mining & Semiconductor ETF (RIGZ).

The ETF invests in companies in the cryptocurrency mining industry with “robust and sustainable environment, social and governance (ESG) policies.”

Its holdings include not actual cryptocurrencies but rather firms associated with the process of cryptocurrency mining, from producers of computer chips and related equipment to miners themselves.

Viridi Funds screens its ETF’s holdings based on certain ESG criteria, aiming to select cryptocurrency industry companies that “maintain robust and sustainable ESG policies.”

The firm says its intention is to focus on the “E,” or “environmental” in ESG, noting that cryptocurrencies address the social and governance aspects.

According to Viridi, over 50% of North American bitcoin mining is already done using renewable energy sources.

RIGZ is an actively managed ETF with an expense ratio of 0.90% and is listed on the New York Stock Exchange.

 

Source: ETF.com. Data and information as of 7/30/2021.
The above sidebar covers launches and closures for the month of July 2021.

Heather Bell is a former managing editor of etf.com. She has also held editorial positions at Dow Jones Indexes and Lehman Brothers. Bell is a graduate of Dartmouth college and resides in the Denver area with her two dogs.