A Bitcoin mining ETF that most income-focused investors have probably never encountered just posted a 52% return in a single week. The CoinShares Bitcoin Mining ETF, trading under the ticker WGMI, has been one of the most explosive funds in the entire ETF universe, and it doesn’t even hold any actual Bitcoin.
What WGMI actually is, and why it’s moving
The fund launched on February 7, 2022, originally as the Valkyrie Bitcoin Miners ETF before being rebranded under the CoinShares name in late 2024. Its investment mandate is straightforward: at least 80% of assets must be allocated to companies that generate 50% or more of their revenue or profits from Bitcoin mining operations, related services, or mining hardware and software.
The fund is actively managed, with an expense ratio of 0.75%.
WGMI posted approximately 300% gains in its first full calendar year of existence. In Q2 2025, the fund returned 78%. Year-to-date returns as of mid-2026 sit in the range of 70% to 88%, with one-year returns stretching between 230% and 310%. Assets under management have climbed to roughly $400 million. The fund’s 52-week trading range has spanned from approximately $19 to $77.
