CoinShares launched its first UCITS exchange-traded fund (ETF) in Europe, designed to track publicly listed Bitcoin mining companies. This ETF began trading on Deutsche Börse Xetra under the ticker MINE, providing European investors access to the Bitcoin mining sector through an Irish-domiciled fund.
The CoinShares Bitcoin Mining UCITS ETF commenced trading on Tuesday. The fund tracks the CoinShares Bitcoin Mining Index, which is a rules-based index of Bitcoin miners administered by Solactive AG, according to an announcement from CoinShares.
As of now, the ETF is trading at 19.50 euros ($21.74) per share, with Deutsche Börse Xetra reporting 60 units traded for a total turnover of 1,184 euros. In comparison, the similar US-traded CoinShares Bitcoin Mining ETF (WGMI) has net assets of $343.6 million.
CoinShares stated that the UCITS fund features a total expense ratio of 0.65% and will rebalance on a quarterly basis. UCITS, which stands for Undertakings for Collective Investment in Transferable Securities, represents the EU’s regulatory framework for investment funds, allowing for marketing across multiple jurisdictions under a harmonized regulatory regime.
