CoinShares drops a Bitcoin mining ETF in Europe — because every continent deserves its own WGMI ⛏️

CoinShares has launched its first UCITS exchange-traded fund tracking publicly listed Bitcoin mining companies, opening European investors to the sector through an Irish-domiciled vehicle listed on Deutsche Börse Xetra. The CoinShares Bitcoin Mining UCITS ETF began trading Tuesday under the ticker MINE.

The physically replicated fund tracks the CoinShares Bitcoin Mining Index, a rules-based basket of listed Bitcoin miners administered by Solactive AG, the asset manager said in an announcement. The ETF was last trading at 19.50 euros ($21.74) per share. Deutsche Börse Xetra data showed 60 units traded for a turnover of 1,184 euros.

The similar US-traded CoinShares Bitcoin Mining ETF (WGMI) has net assets of $343.6 million. CoinShares said the UCITS fund has a total expense ratio of 0.65% and rebalances quarterly.

UCITS, or Undertakings for Collective Investment in Transferable Securities, is the EU's regulatory framework for investment funds. UCITS funds are widely used by European asset managers because they can be marketed across multiple jurisdictions under a harmonized regulatory regime.

The new listing extends CoinShares' mining-focused product range beyond the US-traded WGMI into the European UCITS market.