Posted on 12/20/2022 9:58:58 AM PST by SeekAndFind
Viridi Funds announced that the Viridi Cleaner Energy Crypto-Mining & Semiconductor ETF (NYSEARCA:RIGZ) will liquidate and de-list from the New York Stock Exchange.
RIGZ was actively managed and provided market participants with exposure to the cryptocurrency mining industry and indirect exposure to crypto-assets such as Bitcoin (BTC-USD) and Ethereum (ETH-USD).
RIGZ, which jumped out of the gates with a 15% rally in its first 48 hours of trading, caught a wave of upward momentum from the crypto craze. The fund soared 133% in its first four months of trading, alongside Bitcoin’s peak.
However, since the fund topped out at $56.63 a share on Nov. 9, 2021, it has plummeted to $4.07 a share. This equates to a 92.8% plunge.
RIGZ, with its 0.90% expense ratio, has been bogged down in 2022 amid the general crypto collapse. Some of its top holdings include Riot Blockchain (NASDAQ:RIOT), CleanSpark (CLSK), Bitfarms (BITF), and Hut 8 Mining Corp. (HUT), which have all cratered in 2022. Year-to-date and RIOT is -82.6%, CLSK -79.6%, BITF -90.7% and HUT -88.2%.
RIGZ will cease trading and will be closed to purchase additional shares by investors as of the close on Jan. 4, 2023.
Regarding its liquidation, Viridi Funds noted in a press release: “The fund will liquidate its assets and distribute cash pro rata to all shareholders of record who have not previously redeemed or sold their shares, subject to any required withholding.”
See further details about the liquidation and de-listing of RIGZ.
(Excerpt) Read more at seekingalpha.com ...
RIGZ...
Is the next one CHuMP? SUKA?
That's exactly what crypto reminds me of.
Earlier in the year when I read of huge gains in crypto I cursed myself for not checking it our earlier figuring I missed the boat.
Glad I did not check it out.
SKAM
Obviously the ideal time for the government to ask the Treasury to shift to a digital cashless monetary system.
I love the term “mining”. The entities aren’t mining anything. The entities are just increasing the speed of turnover of transactions and calling that “mining”.
Invest in crypto they said......you’ll clean up they said......totally secure they said
I can piss my own money away just fine without help from a smoke and mirrors racket like that
It appears RIGZ was actively RIGGED
Here’s how you stop ponzi schemes:
Last In….First Paid.
The bloom is coming off the tulips
RIGZ was actively managed and provided market participants with exposure to the cryptocurrency mining industry...
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What’s in a name?
“I’m funding my kids college with Beanie Babies!” said no serious investor ever. LOL
That’s exactly what crypto reminds me of.
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At least with the Beanie Baby craze, you got a cute stuffed animal.
Earlier in the year when I read of huge gains in crypto I cursed myself for not checking it our earlier figuring I missed the boat.
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You did miss the boat. Its name was Titanic.
“Crypto mining ETF, which jumped 133% in first 4-months of trading, announces liquidation”
all aspects of the crypto world are wobbling right now, and if the wobble doesn’t stabilize soon, the whole shebang will implode, suddenly and spectacularly ..
“I love the term “mining”. The entities aren’t mining anything. The entities are just increasing the speed of turnover of transactions and calling that “mining”.”
just another BS term to obfuscate and confuse ... so-called “mining” is nothing more than adding new transactions to the “blockchain” ledger files ...
I never bought any crypto but gave it some serious thought around 2012 when it was selling at $300 but my wife(now ex-wife) talked me out of it. I only intended to purchase one coin at $300 and see what happened but she insisted it was a waste. Fast-forward 5 years and that $300 investment would have been worth $10k-$15k. I would have sold it by then but was amazed people were still buying crypto, and that there was a dozen more besides Bitcoin.
Today I still have a small regret for not buying that single coin but I don’t lose sleep over it, but for all those people that invested their life savings and didn’t cash out after gaining 1000x the value of their original investment, they were greedy fools and I find I difficult to feel much pity for them.
It was obvious to me it was a scam headed for an inevitablecollapse after reading and watching interviews with SBF and his inbred mongoloid girlfriend.
The fact that there were so many wealthy educated idiots that believe those two turds convinces me that even though Joe Biden won via massive fraud, it is still possible there are 80 million idiots in this country that could have voted for him.
PING! For Crypto Ping List.
Another crypto scam gone bust. It won’t be the last
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