CoinShares has launched its first UCITS exchange-traded fund (ETF) in Europe, which tracks publicly listed Bitcoin mining companies, giving European investors exposure to the sector through an Irish-domiciled fund 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 EUs 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.
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