Valkyrie Bitcoin Miners ETF Price & Performance (WGMI)

The Valkyrie Bitcoin Miners ETF (WGMI) experienced an 18.5% drop in short interest as of February 28, reflecting improved investor sentiment. Despite this, the ETF has faced a 7.3% decline in its stock price recently, and its average trading volume suggests a days-to-cover ratio of just 0.5 days.12

Publicly traded bitcoin mining stocks, including those in the WGMI ETF, have become cheaper, trading below their historical valuation averages. JPMorgan analysts note a $3 billion reduction in market capitalization among these equities, with some firms showing potential upside as the mining hashrate stabilizes.32

Spot Bitcoin ETFs saw a daily net outflow of $278.4 million, while cumulative flows remain robust at $35.93 billion. Meanwhile, the CoinShares Valkyrie Bitcoin Miners ETF (WGMI) continues to navigate price volatility, closing recently at $14.48 after a sharp 11.27% drop in a single session.41