— Wes Fulford, Co-founder and CEO of Viridi
SEATTLE, WA, USA, June 7, 2022 /EINPresswire.com/ — Viridi Funds (“Viridi”), a registered investment advisor and emerging fund manager focused on thematic investment products, today announced their “RIGZ” ETF name will be updated to “Viridi Bitcoin Miners ETF” from its previous name, “Viridi Cleaner Energy Crypto-Mining & Semiconductor ETF.” Viridi feels as though this new name better reflects the true nature of the portfolio.
Viridi is committed to investing in clean energy Bitcoin miners, and continues to believe the Bitcoin mining space is heading towards a more sustainable future. Viridi is also committed to investor education through its ongoing Bitcoin mining research content and interviews with industry leaders.
“Our name change is an exciting step in better connecting with our current and future investors,” Wes Fulford, Co-founder and CEO of Viridi, explained. “With this new name, our ETF will maintain its most important qualities as an innovative and distinct product which supplies investors with a simple way to access cryptocurrency exposure within an ETF structure.”
Adding to Viridi’s news is the announcement of Jared McCutcheon as an ETF Sales Director. McCutcheon has nearly a decade of experience in the financial services industry, with over five years in asset management. McCutcheon added, “Leading Viridi’s sales efforts, as we rebrand with a more effective name, is an opportunity to propel our fund even further forward as a strategy to be considered for many portfolios. It is an honor to take on this role, especially at this time.” McCutcheon draws from his previous role at Allspring Global Investments and its predecessor, where he provided coverage for wirehouses, independent broker-dealers, and RIAs.
About Viridi Funds
Viridi Funds is a registered investment adviser that couples its experience in crypto mining operations with capital markets to invest in the crypto mining space, with a focus on clean energy. Viridi aims to give investors exposure to a fast-growing and dynamic sector. For more information on Viridi Funds, visit https://viridifunds.com.
On May 23, 2022 the Fund changed its name from Viridi Cleaner Energy Crypto Mining and Semiconductor ETF to Viridi Bitcoin Miners ETF In addition, the Fund is no longer held by prospectus to its clean energy screen.
The fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by calling (215) 882-9983, or by visiting www.viridifunds.com. Read it carefully before investing.
Investments involve risks. Principal loss is possible. ETFs may trade at a premium or discount to their net asset value. Redemptions are limited and often brokerage commissions are charged on each trade which may reduce returns.
The Fund will not invest directly in cryptocurrencies however it invests in companies involved in the cryptocurrency industry such as mining and manufacturers which can be very volatile. There is no assurance that the cryptocurrency network or service providers will continue in existence or grow. Technology companies may have limited product lines, financial resources and could face intense competition and rapid product obsolescence. Cryptocurrency functionality relies on the Internet and a significant disruption of connectivity could impede functionality and the risk of fraud or cyber-attack which could have adverse effect on the Fund’s investments.
Cryptocurrencies are subject to supply and demand so it is unclear how it will be impacted by geopolitical events. Nevertheless, political, health or economic crises may motivate large-scale acquisitions or sales of cryptocurrency either globally or locally. Large movements in the price of cryptocurrencies could create volatility and negatively impact the value of the Fund.
Cryptocurrencies exchanges are new and largely unregulated without any central authority or backing by any government or banks. Cryptocurrency is not legal tender and may experience very high volatility or be more exposed to fraud, glitches or stop operating.
Cryptocurrencies currently face an uncertain regulatory landscape and are rapidly evolving in not only the United States but also in many foreign jurisdictions. The adoption of laws and regulations that affect the industry could ultimately have a negative impact or impede the growth of the companies the fund invests in.
The Fund’s crypto mining investments will be screened with clean energy criteria. Given the high energy usage of the crypto mining industry, the Sub-Adviser will evaluate crypto mining companies by focusing on their actions that will reduce the negative environmental impacts of mining. The Sub-Adviser will also consider purchased carbon offsets and other actions promoting environmental sustainability. There can be no assurance that this strategy will be successful for the Fund.
The Fund is non-diversified, which means that it may invest more of its assets in the securities of a single or smaller number of issuers than if it were a diversified fund. The Fund was recently organized with limited operating history and track record on which to base an investment decision.
The Funds are distributed by Quasar Distributors, LLC.Viridi Funds is the sub-advisor to the RIGZ ETF.
RIGZ holdings consist of crypto mining companies (Bitfarms, Hut 8 Mining, Riot Blockchain, CleanSpark, HIVE Blockchain Technologies, and Marathon Digital Holdings), as well as semiconductor companies (Samsung Electronics Co, Nvidia Corporation, Advanced Micro Devices, and Taiwan Semiconductor Manufacturing Co).
Cleary Strategies, LLC
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