CoinShares’ first European UCITS ETF began trading on Deutsche Börse Xetra, offering regulated exposure to listed Bitcoin miners through an Irish-domiciled fund with quarterly rebalancing.
CoinShares said it has expanded into Europe’s regulated fund market by launching a UCITS platform and listing its first product, the CoinShares Bitcoin Mining UCITS ETF, on Deutsche Börse Xetra on Tuesday. The Irish-domiciled fund, which trades under the ticker MINE, gives investors exposure to publicly listed Bitcoin mining companies through a UCITS-compliant structure aimed at institutional buyers whose mandates can restrict use of other crypto-linked products. The physically replicated ETF tracks the CoinShares Bitcoin Mining Index, a rules-based basket of listed Bitcoin miners administered by Solactive AG. CoinShares said the fund has a total expense ratio of 0.65% and rebalances quarterly. It was last trading at 19.50 euros per share, with Deutsche Börse Xetra data showing 60 units traded for turnover of 1,184 euros. The company framed the platform as a way to remove a structural barrier rather than introduce a new investment strategy. CoinShares has said many institutional mandates prohibit investments in debt securities, including exchange-traded products backed by physical digital assets, limiting participation despite investor interest. By using the UCITS framework, it said those investors can now access regulated digital-asset investment products through a structure already accepted under their internal rules. CoinShares added that the platform operates on a largely fixed cost base and is intended to support additional regulated digital-asset and thematic funds over time. The launch also gives the firm a European-listed counterpart to its U.S.-traded CoinShares Bitcoin Mining ETF, WGMI, which has net assets of $343.6 million.