Coinshares的Valkyrie比特幣採礦（WGMI）ETF是2025年表現最差的ETF

Coinshares的Valkyrie比特幣採礦（WGMI）交易所交易基金（ETF）是2025年表現最差的ETF，年滿43％

CoinShares' Valkyrie Bitcoin Mining (WGMI) exchange-traded fund (ETF) is the worst-performing ETF of 2025, down 43% year-to-date, according to Senior Bloomberg ETF analyst Eric Balchunas.

根據彭博ETF ETF分析師Eric Balchunas，Coinshares的Valkyrie比特幣開採（WGMI）交換基金（ETF）是2025年表現最差的ETF，年滿43％。

The ETF is made up of several publicly traded bitcoin (BTC) miners. IREN (IREN) is the largest holding at 15%, which is down 42%. Core Scientific (CORZ) follows with a 14% weighting and a 48% decline, while Cipher Mining (CIFR), the third-largest holding at 9.6%, is down 52%. Even NVIDIA (NVDA), the sixth-largest holding at 5%, has dropped over 20% this year.

ETF由幾個公開交易的比特幣（BTC）礦工組成。 Iren（Iren）是15％的最大持有量，下降了42％。核心科學（CORZ）隨後加權14％，下降了48％，而密碼開採（CIFR）是第三大股份，為9.6％，下降了52％。即使是NVIDIA（NVDA），第六大股票的5％，今年下降了20％以上。

According to its investment strategy, "The ETF will invest in companies that derive at least 50% of their revenue or profits from bitcoin mining operations and/or from providing specialized chips, hardware, software, or other services to companies engaged in bitcoin mining."

根據其投資策略，“ ETF將投資於從比特幣採礦業務中獲得至少50％的收入或利潤的公司，並為/或為從事比特幣採礦的公司提供專業的芯片，硬件，軟件或其他服務。”

WGMI consists of 21 holdings and manages $147.2 million in total assets.

WGMI由21家持股和管理總資產管理1.472億美元。

In contrast, metals ETFs have been the top performers of 2025, according to justETF. Several gold mining ETFs rank in the top five, with the Equity World Basic Materials DAXglobal Gold Miners ETF having gained 38% year-to-date.

相反，根據Justetf的說法，金屬ETF一直是2025年的最佳表現。幾家黃金礦業ETF在前五名中排名，股票世界基本材料Daxglobal Gold Miners ETF年年至今已上漲了38％。

Bitcoin miners have faced significant challenges this year, as the network hash rate, which represents the computational power required to mine bitcoin, continues to climb and is now approaching all-time highs of around 832 EH/s. This has led to a substantial divergence between bitcoin's price and the hash rate.

比特幣礦工今年面臨著重大挑戰，因為代表挖掘比特幣所需的計算能力的網絡哈希速率繼續攀升，現在正接近約832 EH/s的歷史高度。這導致了比特幣的價格和哈希率之間的巨大差異。

Consequently, mining difficulty has also remained close to its peak, making it more difficult for miners to successfully mine new bitcoins. At the same time, transaction fees are exceptionally low, further reducing miner profitability as rewards from processing transactions remain minimal.

因此，採礦難度也保持接近其頂峰，使礦工更難成功地開採新的比特幣。同時，交易費用異常低，隨著處理交易的獎勵仍然很小，進一步降低了礦工的盈利能力。