CoinShares Bitcoin Mining ETF (WGMI) Covered Calls

The CoinShares Valkyrie Bitcoin Miners ETF is an actively managed fund that provides exposure to the Bitcoin mining industry. It invests in public companies that derive at least 50% of their revenue from mining operations, hardware manufacturing, or data center services. By focusing on firms transitioning toward AI and high-performance computing (HPC), the ETF offers a strategic blend of crypto-reflexive growth and the stable, long-term revenue characteristic of digital infrastructure.

You can sell covered calls on CoinShares Bitcoin Mining ETF to lower risk and earn monthly income. Born To Sell's covered call screener gives you customized search capabilities across all possible covered calls but here are a couple of examples for WGMI (prices last updated Tue 4:16 PM ET):

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CoinShares Valkyrie Bitcoin Miners ETF is a premier thematic fund designed to capture the value of the infrastructure layer within the digital asset economy. As of 2026, the fund has evolved from a pure-play mining vehicle into a diversified proxy for "AI power assets." Managed by CoinShares, the fund targets companies at the intersection of energy management, blockchain verification, and high-performance computing, providing investors with a liquid way to access the picks-and-shovels of the decentralized and AI revolutions.

Core Investment Strategy and Operations

1. Active Equity Management: Unlike passive index funds, WGMI is actively managed to navigate the high volatility of the mining sector. The fund maintains a concentrated portfolio of approximately 25 holdings, selecting companies based on operational efficiency, hash rate growth, and their ability to secure low-cost, sustainable energy contracts.
2. The AI and HPC Pivot: A defining characteristic of the fund in 2026 is its heavy allocation to miners that have successfully re-purposed their data centers for AI workloads. These firms leverage their massive power capacity to host GPU clusters, creating high-margin revenue streams that balance the cyclicality of Bitcoin mining rewards.
3. Asset-Light Exposure: By investing in equities rather than the underlying digital assets, WGMI seeks to capture the operational leverage of the mining industry. This allows the fund to potentially outperform Bitcoin during bull markets while benefiting from the corporate cash flows and technological innovation of the firms it holds.

Competitive Landscape

WGMI is the benchmark for the crypto-infrastructure sector. It competes directly with other mining-focused funds like the Bitwise Crypto Industry Innovators ETF and the Global X Blockchain & Bitcoin Strategy ETF. Its primary holding-level rivals include large-scale operators such as IREN Limited, Cipher Mining, and Core Scientific. For investors tracking high-performance computing, it is often compared to infrastructure plays like Applied Digital Corp. Compared to spot products like the iShares Bitcoin Trust, WGMI offers a significantly higher beta to the crypto market.

Strategic Outlook and Innovation

In early 2026, WGMI is at the forefront of the "Energy First" investment thesis. The fund’s management is increasingly focused on the scarcity of power as the primary constraint for both Bitcoin mining and AI model training. A key strategic priority is identifying companies that are integrating small modular reactors (SMRs) or proprietary cooling technologies to lower overhead. Innovation efforts are directed at analyzing "real-time energy flexibility"—the ability of miners to sell power back to the grid during peak demand—as a core valuation metric. With an expense ratio of 0.75%, WGMI remains a competitively priced vehicle for institutional and retail investors who believe that the future of finance and intelligence is built on the same high-density energy infrastructure. By focusing on "all-weather" miners with diverse revenue streams, WGMI aims to provide a resilient growth engine within the broader digital asset landscape.

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