AI Data Center and Crypto Mining ETF Falls After Democratic Sweep — WSJ

What happened

The CoinShares Bitcoin Mining and Digital Power ETF, which holds shares in neocloud providers and bitcoin miners with data-center businesses, fell more than 8% Wednesday afternoon. The fund had risen 72% in 2025 during an AI rally, but was down nearly 30% so far this year.

Confirmed

Global impact / market context

The fund’s holdings connect AI data-center investment with former bitcoin miners shifting toward data-center work. A sharp fall can reduce the value of investors’ exposure to both groups and may raise questions about whether these companies can sustain AI-related growth and spending.

Analyst inference

The article describes a fund that gained strongly during the 2025 AI rally but has since pulled back. That reversal shows how quickly investor expectations around AI-linked businesses can change, with data-center companies and transitioning miners represented together in one fund.

Analyst inference

What to watch

1. Watch for further reported changes in the ETF’s value, since continued declines would deepen the reversal from its 2025 rise and affect holders’ investment value. Analyst inference
2. Track whether former bitcoin miners continue building data-center businesses; the article says they are finding the transition rocky, but gives no company-specific results. Confirmed
3. Look for evidence that neocloud providers and transitioning miners can sustain data-center growth, since weaker progress could challenge the revenue expectations underpinning AI-related investment. Analyst inference

Affected assets

• BTC — Bitcoin

Evidence

• Original source link unavailable