.png)
1 month ago
24
The ETF climbed past its debut price as Oracle’s AI-fueled cloud surge lifted tech momentum.
Sep 10, 2025, 10:26 a.m.
The CoinShares Bitcoin Mining ETF (WGMI) rose 12% to a record $33.13 on Tuesday as Nebius Group’s $17.4 billion agreement to supply GPUs to Microsoft boosted crypto mining and AI-related stocks across the board
The exchange-traded fund is now 44% higher year-to-date and has surpassed its market debut level of around $30.
The top two holdings have been standout performers year-to-date:
- IREN (IREN) has surged 188%
- Cipher Mining (CIFR) has climbed 90%
WGMI manages $175.7 million in total assets with an expense ratio of 0.75%.
AI momentum
The Nebius-Microsoft deal sparked a rally in AI-focused mining stocks on Tuesday, adding to momentum from the broader AI movement.
AI euphoria also boosted Oracle (ORCL), which surged 30% in pre-market trading on Wednesday. The company, a database software developer that has pivoted to cloud computing, raised its cloud revenue growth forecast to 77% on soaring AI demand, according to Financial Times. Its backlog surged 359% to $455 billion, fueled by massive AI-driven cloud contracts.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
Bitcoin Crosses $112K as Traders Brace for Data Week; Rotation Lifts SOL, DOGE
Crypto spent the week in neutral, with bitcoin lagging peers and gold. Positioning remained cautious ahead of CPI, PPI, and central-bank headlines, while pockets of rotation pushed SOL and DOGE higher.
What to know:
- Bitcoin remained around $111,500 as traders evaluated a light spot-ETF tape against a busy macroeconomic calendar.
- Dogecoin surged to 24 cents, outperforming major cryptocurrencies ahead of the first-ever memecoin ETF launch in the U.S.
- Investors are navigating between bearish sentiment and potential missed opportunities, with key focus on U.S. economic data and central bank decisions.
