The CoinShares Bitcoin Mining ETF (WGMI) rose 12% to a report $33.13 on Tuesday as Nebius Group’s $17.4 billion settlement to produce GPUs to Microsoft boosted crypto mining and AI-related shares throughout the board
The exchange-traded fund is now 44% increased year-to-date and has surpassed its market debut stage of round $30.
The highest 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 complete belongings with an expense ratio of 0.75%.
AI momentum
The Nebius-Microsoft deal sparked a rally in AI-focused mining shares on Tuesday, including to momentum from the broader AI motion.
AI euphoria additionally boosted Oracle (ORCL), which surged 30% in pre-market buying and selling on Wednesday. The corporate, a database software program developer that has pivoted to cloud computing, raised its cloud income development forecast to 77% on hovering AI demand, in response to Monetary Instances. Its backlog surged 359% to $455 billion, fueled by large AI-driven cloud contracts.
