Viridi Funds' ETF Focuses On Greener Crypto Mining

Law360 (July 20, 2021, 5:29 PM EDT) -- Viridi Funds on Tuesday launched an exchange-traded fund that will focus on more environmentally friendly cryptocurrency mining operations as well as other industries that support the cryptocurrency ecosystem.

The Seattle-based investment adviser's Viridi Cleaner Energy Crypto-Mining & Semiconductor ETF started trading Tuesday on the New York Stock Exchange, where it's appearing under the symbol "RIGZ." The fund focuses on cryptocurrency mining, which refers to the computation-intensive process of verifying cryptocurrency transactions. The fund also invests in cryptocurrency mining infrastructure businesses and semiconductor companies such as Samsung Electronics Co., Nvidia Corp. and Advanced Micro Devices, the announcement said.

Viridi said it hopes...

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