Exchange traded funds related to Bitcoin mining sat at the top of the ETF performance list for January, as the highest returning fund notched gains greater than 80% . The Valkyrie Bitcoin Miners ETF ( NASDAQ: WGMI ), a small actively managed fund with $3.96M assets under management, was able to explode by 85.5% in the first month of 2023. At one point in January, the fund topped +100% , but since cooled off. Placing WGMI’s topside move into perspective, it outpaced the performance of the S&P 500 ( SP500 ) and its mirroring exchange traded funds ( NYSEARCA: SPY ), ( NYSEARCA: VOO ), and ( IVV ) by 15x. WGMI was not the only Bitcoin mining and crypto focused fund that jumped higher on the month. The VanEck Digital Assets Mining ETF ( DAM ) gained 70.8% , VanEck Digital Transformation ETF ( DAPP ) popped 63.3% , and Bitwise Crypto Industry Innovators ETF ( BITQ ) rose by 58.7% . All four funds were supported by the underlying climb in the price action of Bitcoin ( BTC-USD ), which started 2023 below $17K and moved its way up 40% to retake the $23K level. In other crypto related news, the U.K. government outlines a plan to regulate the cryptocurrency industry.