CoinShares Bitcoin Mining UCITS ETF
The CoinShares Bitcoin Mining UCITS ETF provides regulated exposure to publicly listed companies at the core of the Bitcoin network. Designed for investors seeking targeted access to the Bitcoin mining industry, within a familiar and accessible UCITS structure.
Key features of our Bitcoin Mining ETF
Invest in Bitcoin’s infrastructure
Bitcoin miners verify transactions, secure the blockchain, and earn Bitcoin as reward. Mining companies are equity instruments whose performance is highly sensitive to Bitcoin's price cycle and operational upside from energy efficiency gains — a compelling entry point into the Bitcoin ecosystem without holding crypto directly.
Europe’s only Bitcoin Mining ETF
The only UCITS-regulated ETF in Europe providing dedicated exposure to publicly listed Bitcoin mining companies. Unlike broader crypto equity or blockchain products, it offers targeted access to this sector in a regulated structure, accessible through any standard brokerage account.
Institutional-grade selection
Companies are scored across five factors — hashrate, profitability, financial resilience, environmental efficiency and governance — rather than simply weighted by market cap. Developed with CoinShares as Index Advisor, the index favours quality and resilience, delivering a disciplined portfolio of operators selected and weighted on the composite score.
Product Identity
- Product name
- Share Class Name
- Ticker
- ISIN
Key Information
Data as of 17/07/2026- Share Class inception date16/07/2026
- Share Class AuMUSD 979,014
- Share Class CurrencyUSD
- Share Class Total Expense Ratio0.65%
- Share Class NAVUSD 19.58
- Use of incomeAccumulating
- Risk & Reward indicator (SRRI)6
- Fund inception date16/07/2026
- Fund AuMUSD 979,014
- Fund Base CurrencyUSD
- BenchmarkCoinShares Bitcoin Mining Index
- Rebalance frequencyQuarterly
- Securities lendingNo
Investment objective
The investment objective of the fund is to provide exposure to companies that are active in Bitcoin mining — i.e. companies whose business model includes the operation of mining hardware that contributes to validating transactions on the Bitcoin blockchain — by replicating the CoinShares Bitcoin Mining Index (subject to the deduction of the TER and other expenses).
The Index tracks the market performance of global publicly listed companies active in Bitcoin mining. Mining involves the use of specialised hardware to solve complex cryptographic problems (proof-of-work), validating transactions and adding them to the Bitcoin blockchain. Miners receive newly created Bitcoin and transaction fees as compensation for this service.
Risk and reward profile
Bitcoin mining companies are highly exposed to Bitcoin price volatility, and face significant operational, regulatory, ESG, and cybersecurity risks. This product does not include any protection from future market performance or any capital guarantee against credit risk, so you could lose some or all of your investment. If we are not able to pay you what is owed, you could lose your entire investment.
This Fund is intended for investors seeking capital appreciation over the long term who are able to assess the merits and risks of the investment. An investment in the Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.
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Disclaimer: The summary risk indicator (SRI) profile classifies the fund by an indicator representing the levels from lowest (1) to the highest (7). For more information see the KID.
Securities lending
The Fund may use certain securities financing transactions.
The maximum proportion of the Fund's assets that may be subject to securities lending is 100% and the expected proportion of the Fund's assets that may be subject to securities lending is between 0% and 30%.
At least 70% of the revenues arising from securities lending will be returned to the Fund and a maximum of 30% of the revenues (representing the attendant direct and indirect operational costs and fees of the securities lending agent) will be retained by the securities lending agent. The identity of any securities lending agents engaged by the ICAV from time to time shall be included in the ICAV’s semi-annual and annual reports.
MINE Performance
Key risks
Investor's capital is at risk and investors may lose part or all of their investment. Crypto ETPs are complex products that can be difficult to understand. These figures refer to the past and past performance is not a reliable indicator of future returns.
MINE holds the following assets:
| Weight | |||
| CLEANSPARK INC COMMON | MINE | 118,911.78 | 12.15% |
| MARA HOLDINGS INC COMMON | MINE | 116,777.56 | 11.93% |
| IREN LTD COMMON STOCK USD | MINE | 94,741.16 | 9.68% |
| BITDEER TECHNOLOGIES | MINE | 91,837.74 | 9.38% |
| HUT 8 CORP COMMON STOCK | MINE | 87,517.65 | 8.94% |
| RIOT PLATFORMS INC COMMON | MINE | 67,470.7 | 6.89% |
| HIVE DIGITAL TECHNOLOGIES | MINE | 58,601.7 | 5.99% |
| KEEL INFRASTRUCTURE CORP | MINE | 47,593.55 | 4.86% |
| CANAAN INC ADR CAD 5E-8 | MINE | 45,908.83 | 4.69% |
| BIT DIGITAL INC COMMON | MINE | 44,291.8 | 4.52% |
Fund sector exposure
Sector exposure uses Global Industry Classification Standard to classify securities.
- Information Technology99.2%
- Other0.8%
Fund country exposure
Country exposure aggregates the primary country of risk for individual securities.
- United States69.3%
- Singapore14.7%
- Australia9.7%
- Canada6.3%
- United Kingdom0.1%
Trading Information
Data will be available after initial trading period
Structure
Key service providers
Legal & tax
| Domicile | Ireland |
| Legal Structure | UCITS Open ended fund |
| Replication Method | Physical |
| SFDR Classification | 6 |
People Also Ask
FAQWhat is bitcoin mining?
Bitcoin mining is the process by which specialised computers validate transactions and secure the Bitcoin network. In return for providing computing power (hashrate), miners receive newly issued Bitcoin and transaction fees as rewards.
Learn more about bitcoin miningWhy invest in Bitcoin mining companies?
Bitcoin miners sit at the core of the Bitcoin network’s infrastructure. They can offer amplified (high-beta) exposure to Bitcoin’s price movements, while also benefiting from operational improvements, scale advantages and efficiency gains over time.
How is MINE different from a Bitcoin ETP?
Bitcoin ETPs track the price of Bitcoin directly. MINE invests in companies that mine Bitcoin, meaning performance is influenced not only by Bitcoin price, but also by operational efficiency, margins, balance sheet strength and growth strategies of the miners.
Risk of Investing in Bitcoin mining companies
The Fund may be subject to the risks associated with, but not limited to, investing in companies with a material exposure to Bitcoin mining.
The profitability and long-term viability of such companies depend heavily on the price of Bitcoin, which is volatile and can be influenced by factors including market sentiment, regulatory developments, technological changes, and macroeconomic conditions. A significant decline in the price of Bitcoin may render mining operations unprofitable and materially impair the value of securities issued by these companies. Mining companies face substantial operational risks, including rising energy costs, limitations in power supply, equipment failures, supply chain disruptions for specialized hardware (such as ASIC chips), and technological obsolescence as newer, more efficient mining equipment becomes available. Furthermore, mining operations are increasingly subject to environmental, social, and governance (ESG) scrutiny due to their energy-intensive nature, and shifts in regulation or public policy aimed at reducing carbon emissions may increase compliance costs or restrict operations in certain jurisdictions.
Bitcoin mining is also highly sensitive to changes in network difficulty and block reward structures. Events such as “halvings” (periodic reductions in block rewards) may adversely affect miners’ revenue. In addition, geographic concentration of mining activities in specific regions can expose companies to localized political, regulatory, or environmental risks, including outright bans or restrictions on mining activity. Finally, mining companies may experience heightened cybersecurity risks, including hacking, theft of mined Bitcoin, or disruptions to data centers and facilities. They may also suffer from relatively low liquidity and high volatility in their securities, making them more vulnerable to sharp price movements than companies in more established industries.
