CoinShares Launches Europe's First Bitcoin Mining ETF on German Exchange
CoinShares has introduced its inaugural European UCITS ETF on Deutsche Börse Xetra, offering exposure to a rules-based index comprising publicly traded Bitcoin mining companies.
The digital asset management firm CoinShares has introduced its inaugural UCITS exchange-traded fund (ETF) on European markets, providing tracking exposure to publicly traded Bitcoin mining operations and offering investors across Europe access to this sector via an Irish-domiciled investment vehicle now listed on the Deutsche Börse Xetra trading platform.
Trading commenced on Tuesday for the CoinShares Bitcoin Mining UCITS ETF, which operates under the ticker symbol MINE. This physically replicated investment vehicle provides exposure to the CoinShares Bitcoin Mining Index, which represents a rules-based collection of publicly listed Bitcoin mining companies and is administered by Solactive AG, according to the asset manager's official announcement.
The exchange-traded fund was most recently changing hands at 19.50 euros ($21.74) for each share. Trading data from Deutsche Börse Xetra indicated that 60 units changed hands, resulting in a total turnover volume of 1,184 euros. The comparable United States-listed CoinShares Bitcoin Mining ETF (WGMI) currently holds net assets totaling $343.6 million.
According to CoinShares, the UCITS-compliant fund carries a total expense ratio of 0.65% and undergoes rebalancing on a quarterly basis.
UCITS, which stands for Undertakings for Collective Investment in Transferable Securities, represents the European Union's established regulatory framework governing investment funds. UCITS-compliant funds have gained widespread adoption among European asset management firms due to their ability to be distributed and marketed across numerous jurisdictions operating under a standardized and harmonized regulatory structure.