ETF Evaluator:
CoinShares Bitcoin Mng and Dgtl Pwr ETF (WGMI)
Follow This ETF
(as of Sep 18)
Best Performing in Equity Digital Assets Over the Last Year
| 82.2% | State Street® Galaxy Dgtl Ast Ecosys ETF (DECO) |
| 76.6% | State Street® Galaxy HdgDgtlAstEcosysETF (HECO) |
| 40.1% | CoinShares Bitcoin Mng and Dgtl Pwr ETF (WGMI) |
| 23.5% | Bitwise Crypto Industry Innovators ETF (BITQ) |
| 13.9% | Equity Digital Assets () |
Risk
Index
Risk
Index
ETF Details
CoinShares Bitcoin Mng and Dgtl Pwr ETF Overview
CoinShares Bitcoin Mng and Dgtl Pwr ETF (WGMI) is an actively managed Sector Equity Equity Digital Assets exchange-traded fund (ETF). CoinShares launched the ETF in 2022.
The investment seeks to provide investors with total return.
The fund is an actively-managed exchange-traded fund (“ETF”) that will invest at least 80% of its net assets (plus borrowings for investment purposes) in securities of Bitcoin Mining and Digital Power Companies. The fund’s selection universe includes common stock and American Depositary Receipts (“ADRs”) listed on global securities exchanges, including U.S. dollar denominated and non-U.S. dollar denominated securities issued by U.S. and non-U.S. companies, including companies operating in emerging market countries. The fund is non-diversified.
About CoinShares Bitcoin Mng and Dgtl Pwr ETF (WGMI)
There are 3 members of the management team with an average tenure of 3.83 years: Rafael Zayas (2024), Austin Wen (2022) and Bill Cannon (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. CoinShares Bitcoin Mng and Dgtl Pwr ETF has 30 securities in its portfolio. The top 10 holdings constitute 62.0% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
CoinShares Bitcoin Mng and Dgtl Pwr ETF is part of the Equity global asset class and is within the Sector Equity ETF group. CoinShares Bitcoin Mng and Dgtl Pwr ETF has 14.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 85.2% There is 14.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). CoinShares Bitcoin Mng and Dgtl Pwr ETF has -2.8% of the portfolio in cash.
Assets Under Management
The fund has $238 million in total assets, which is above the $200 million average for the Equity Digital Assets category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
WGMI Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The CoinShares Bitcoin Mng and Dgtl Pwr ETF expense ratio is above average compared to funds in the Equity Digital Assets category. CoinShares Bitcoin Mng and Dgtl Pwr ETF has an expense ratio of 0.75%, which is 13% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. CoinShares Bitcoin Mng and Dgtl Pwr ETF has a portfolio turnover rate of 40%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 90% for the Equity Digital Assets category.
Recently, in the month of August 2026, CoinShares Bitcoin Mng and Dgtl Pwr ETF returned -16.5%, which earned it a grade of F, as the Equity Digital Assets category had an average return of 7.0%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
CoinShares Bitcoin Mng and Dgtl Pwr ETF has a trailing yield of 0.00%, which is below the 5.36% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
CoinShares Bitcoin Mng and Dgtl Pwr ETF Grades
Year to date, the ETF has returned 12.3%, 2.5 percentage points worse than the category, which translates into a grade of B. The fund has returned 40.1% over the past year (grade of A) and 54.4% over the past three years (grade of A).
For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about CoinShares Bitcoin Mng and Dgtl Pwr ETF, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
WGMI Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| WGMI Return (NAV) | -16.5% | -37.0% | 40.1% | 54.4% | na | na |
| WGMI Return (Price) | -16.4% | -36.8% | 40.4% | 54.5% | na | na |
| NAV +/- Price Return | -0.029% | -0.114% | -0.337% | -0.069% | na | na |
| Equity Digital Assets Avg | 7.0% | -14.2% | 13.9% | 43.8% | -0.3% | na |
| WGMI Grade (NAV) | F | F | A | A | na | na |
| +/- Category (NAV) | -23.5% | -22.7% | 26.2% | 10.6% | na | na |
| WGMI Tax-Cost Ratio | na | na | 0.0% | 0.1% | na | na |
WGMI Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| WGMI Return (NAV) | 12.3% | 72.2% | 23.6% | 304.1% | na | na | na | na | na | na | na |
| WGMI Return (Price) | 12.4% | 72.5% | 23.5% | 304.1% | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.001% | 0.004% | -0.005% | 0.000% | na | na | na | na | na | na | na |
| Equity Digital Assets Avg | 14.9% | 25.2% | 41.5% | 213.3% | -78.9% | 31.6% | 88.2% | 29.2% | na | na | na |
| WGMI Grade (NAV) | B | A | D | A | na | na | na | na | na | na | na |
| +/- Category | -2.5% | 46.9% | -17.8% | 90.7% | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 4.58 |
| R-Squared: | 45% |
| Standard Deviation: | 84.3% |
| Category Risk Index: | 1.33 |
| Category Risk Rating: | High |
| Total Risk Index: | 6.93 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 0.0% |
| Total Assets: | $ 238 Mil |
| Share Class Assets: | $ 238 Mil |
| Turnover: | 40.0% |
| Expense Ratio: | 0.75% |
| Index Fund: | No |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 4.6 years | |||
| Average Tenure: 3.8 years | |||
| Managers (Year): Wen Austin (2022), Cannon Bill (2022), Zayas Rafael (2024) | |||
Portfolio Composition (as of 8/31/26)
| # of Holdings: | 30 |
| % in Top 10 Holdings: | 62.0% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 14.5% |
Portfolio Allocation |
|
| Domestic Stock: | 85.2% |
| Foreign Stock: | 14.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 3.1% |
| Cash: | -2.8% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | CoinShares |
| Phone Number: | 800-617-0004 |
| Website: | www.valkyrie-funds.com |
| Inception Date: | February 7, 2022 |
Expenses and Fees
| Expense Ratio (%): | 0.75% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.67% |
