Key facts
- CoinShares launched its first UCITS ETF in Europe, the CoinShares Bitcoin Mining UCITS ETF.
- The ETF began trading on Deutsche Börse Xetra under the ticker MINE.
- It tracks the CoinShares Bitcoin Mining Index, composed of publicly listed Bitcoin miners.
- The fund has a total expense ratio of 0.65% and rebalances quarterly.
CoinShares has introduced its inaugural UCITS exchange-traded fund (ETF) in Europe, designed to provide investors with exposure to publicly listed Bitcoin mining companies. The fund, named the CoinShares Bitcoin Mining UCITS ETF, commenced trading on Tuesday on the Deutsche Börse Xetra platform under the ticker MINE.
This new ETF is physically replicated and follows the CoinShares Bitcoin Mining Index, which is a curated selection of listed Bitcoin miners. The index is administered by Solactive AG. This launch marks CoinShares' entry into the European ETF market with a product focused on the cryptocurrency mining sector.
Data from Deutsche Börse Xetra indicated that the ETF was trading at 19.50 euros ($21.74) per share, with 60 units traded for a total turnover of 1,184 euros on its first day. A comparable ETF offered by CoinShares in the U.S., the CoinShares Bitcoin Mining ETF (WGMI), holds net assets totaling $343.6 million.
The European ETF features a total expense ratio of 0.65% and undergoes quarterly rebalancing. UCITS, which stands for Undertakings for Collective Investment in Transferable Securities, represents the European Union's regulatory framework for investment funds, allowing for broader marketing across jurisdictions due to its harmonized regulations.