GET DAILY SIGNALSCoinShares Bitcoin Mining ETF (WGMI) Declines -24% Over 30 Days as Bitcoin Miners Face Pressure
Key Takeaways
- WGMI has declined roughly 24% over the trailing 30 days, extending a substantially deeper drawdown across the prior quarter.
- Over the last three months, the fund is down approximately 47%, reflecting broad weakness in bitcoin-linked equities.
- The move is closely tied to bitcoin price action and deteriorating mining economics, including network hashrate and difficulty trends.
- Largest holdings such as IREN, Core Scientific, Cipher Mining, and Riot Platforms have a disproportionate influence on returns.
- The fund is actively managed, concentrated in bitcoin miners and related infrastructure, and does not hold bitcoin directly.
- For additional detail, explore Price Targets and Forecast pages on this ticker.
- Discover Trending AI Robots to monitor automated trading strategies across the market.
Understanding CoinShares Bitcoin Mining ETF (WGMI) and Its Portfolio Focus
WGMI is an actively managed exchange-traded fund that seeks total return through investments in publicly traded bitcoin mining companies. It allocates at least 80% of its net assets to firms generating at least half their revenue or profits from bitcoin mining operations and may also include providers of specialized chips, hardware, software, and related services. The fund does not hold bitcoin directly, which means its share price can move independently of the spot price for the digital asset.
The portfolio remains non-diversified with a concentration in the information technology sector and carries an expense ratio of 0.75%. Its largest reported holdings include IREN, Core Scientific, Cipher Mining, Riot Platforms, NVIDIA, MARA Holdings, Bit Digital, TeraWulf, Bitdeer Technologies, and Hut 8. This focused, high-beta approach tends to magnify both upside and downside moves when bitcoin sentiment changes. I also checked this using Tickeron’s AI Screener to see how the fund compares to other thematic vehicles in the space.
WGMI Price Performance Over the Past 30 Days and Quarter
Over the trailing 30 days, WGMI has fallen approximately 24%, moving from a closing level near $33.81 to roughly $25.78. The decline unfolded as a steady, trend-driven slide marked by elevated volatility and several sharp down days on above-average volume.
The quarterly picture looks more severe. From a closing level near $48.64 three months earlier, the fund has retreated about 47%. The path has stayed predominantly downward, interrupted only by brief, modest relief rallies, which points to sustained selling pressure rather than a single shock followed by quick stabilization.
Factors Behind the Recent 30-Day Decline in WGMI
The recent weakness largely tracks a pullback in bitcoin and the broader digital-asset market. Bitcoin miners function as a leveraged proxy for bitcoin prices because their revenue arrives in bitcoin while costs such as electricity and debt service remain fixed in fiat currency. When bitcoin prices fall, miner margins compress quickly and the equities often underperform the underlying asset on the downside.
Concentration has added to the impact. The fund’s largest positions, including IREN, Core Scientific, Cipher Mining, and Riot Platforms, represent a substantial share of assets, so weakness in just a few names weighs heavily on the overall fund. Rising network hashrate and mining difficulty, together with investor de-risking across high-beta sectors and macroeconomic uncertainty, further pressured sentiment toward speculative growth assets.
Drivers of the Three-Month Performance Drop
The broader three-month decline reflects a sustained rotation away from high-volatility, high-beta themes. Bitcoin miners had rallied earlier in the year on optimism around bitcoin adoption and favorable regulatory developments, yet the reversal has been driven by cooling risk appetite, questions about mining profitability, and capital outflows from thematic crypto-adjacent funds.
Several major holdings experienced pronounced drawdowns as investors reassessed valuation and growth assumptions. Elevated operational costs, ongoing dilution from equity raises, and competitive pressure to scale mining capacity have kept sentiment cautious and extended the correction.
Key Factors to Monitor for WGMI Going Forward
Looking ahead, the most important driver for WGMI remains the direction of bitcoin prices, which continue to dominate miner revenue and sentiment. Investors should also track network hashrate and mining difficulty, electricity costs, and access to efficient hardware. Macroeconomic conditions matter given the sector’s sensitivity to interest rates and liquidity. Corporate fundamentals such as balance-sheet strength, capital-raising activity, and execution on hashrate growth will help separate stronger operators from weaker ones. Regulatory developments affecting digital assets and ETF flows may influence the pace of any recovery. These themes are likely to shape the fund’s risk profile in the months ahead.
Using Tickeron’s AI Screener in My Research
In my own analysis workflow I frequently rely on Tickeron’s AI Screener to scan mining-related equities and ETFs. The tool lets me apply technical indicators, fundamentals, volatility metrics, and industry filters in one place, which helps surface relative strength comparisons without reviewing every holding individually. It has become a practical step when evaluating concentrated thematic funds like WGMI.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
WGMI sees its Stochastic Oscillator ascends from oversold territory
On November 09, 2026, the Stochastic Oscillator for WGMI moved out of oversold territory and this could be a bullish sign for the stock. Traders may want to buy the stock or buy call options. Tickeron's A.I.dvisor looked at 57 instances where the indicator left the oversold zone. In 53 of the 57 cases the stock moved higher in the following days. This puts the odds of a move higher at over 90%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where WGMI's RSI Oscillator exited the oversold zone, 33 of 37 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 89%.
The Moving Average Convergence Divergence (MACD) for WGMI just turned positive on November 09, 2026. Looking at past instances where WGMI's MACD turned positive, the stock continued to rise in 46 of 51 cases over the following month. The odds of a continued upward trend are 90%.
Following a +17.28% 3-day Advance, the price is estimated to grow further. Considering data from situations where WGMI advanced for three days, in 266 of 283 cases, the price rose further within the following month. The odds of a continued upward trend are 90%.
WGMI may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
Following a 3-day decline, the stock is projected to fall further. Considering past instances where WGMI declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 90%.
The Aroon Indicator for WGMI entered a downward trend on November 12, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
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