CoinShares Lists Bitcoin Mining UCITS ETF on Deutsche Börse

CoinShares has rolled out a new UCITS-based fund platform in Europe, aiming to bring regulated digital asset strategies to institutional investors that have been unable to use the firm's debt-based crypto products. The first product on the platform, the CoinShares Bitcoin Mining UCITS ETF, was launched on July 16 and began trading on Deutsche Börse's Xetra on July 21. Despite the name, the fund does not hold Bitcoin directly. Instead, it invests in publicly listed companies tied to Bitcoin mining. CoinShares said the UCITS wrapper is designed for European pension funds, insurers, private banks, and other institutions. Many such investors face mandate restrictions that prevent them from holding debt securities, even when those instruments are backed by physical digital assets. A UCITS ETF structure can align more easily with policies that already allow regulated fund holdings. The company cited a €26.3 trillion pool of net assets as of April 2026 across the target investor base, including pension funds, insurance platforms, private banks, and professional wealth managers. CoinShares added that the new UCITS route complements rather than replaces its existing ETP business, adding another regulated distribution channel alongside exchange-traded products, alternative strategies, and on-chain asset management. The platform uses a UCITS vehicle authorised by the Central Bank of Ireland, which CoinShares said should streamline future launches. Management described the operating setup as largely fixed-cost, allowing additional funds to be added on the same framework and potentially reducing marginal launch costs as the product range expands. CoinShares also expects the structure to support more recurring management fee revenue. By focusing on mining equities, the new ETF also broadens CoinShares' exposure beyond physically backed crypto products. Mining stocks are influenced by factors including Bitcoin price moves, network economics, energy costs, and company execution, offering regulated equity exposure to the sector without direct token custody. The firm noted that investors still face risks linked to mining profitability, market volatility, and business performance. CoinShares said it plans to introduce additional digital asset and thematic funds using the same authorised structure over time. The company reported $165.7 million in full-year 2025 revenue following its Nasdaq listing. According to Yahoo Finance data, CoinShares shares closed at $4.11 on Tuesday, up more than 3% after the UCITS announcement.