Bitcoin Mining ETF from CoinShares Hits Record High Amid Ongoing AI Stock Surge

CoinShares Bitcoin Mining ETF Hits Record $33 as AI Stocks Rally
10/9/2025

The CoinShares Bitcoin Mining ETF (WGMI) climbed 12% to a record $33.13 on Tuesday, surpassing its debut price, as AI-driven momentum in tech stocks lifted market sentiment.

The surge was fueled by Nebius Group’s $17.4 billion deal to supply GPUs to Microsoft, boosting crypto mining and AI-related equities. WGMI is now up 44% year-to-date, exceeding its initial market debut level of around $30.

Top performers among the ETF’s holdings include:

IREN (IREN), up 188% year-to-date
Cipher Mining (CIFR), up 90% year-to-date

WGMI manages $175.7 million in assets and carries an expense ratio of 0.75%.

AI Momentum Drives Gains

The Nebius-Microsoft agreement helped spark a rally in AI-focused mining stocks. Oracle (ORCL) also benefited, climbing 30% in pre-market trading Wednesday. The cloud computing and database software giant raised its cloud revenue growth forecast to 77% amid surging AI demand, while its backlog jumped 359% to $455 billion, driven by AI-powered cloud contracts, according to the Financial Times.