The crypto-focused asset management firm Grayscale has launched a new exchange-traded fund (ETF) focused on Bitcoin miners. The Bitcoin Miners ETF, ticker MNRS, provides investors with exposure to a diversified basket of public companies involved in Bitcoin mining.
MNRS Joins the Growing List of ETFs
The MNRS ETF tracks the Bitcoin Miners Index, which comprises a selection of publicly traded companies that derive at least 50% of their revenue from Bitcoin mining (from hardware manufacturers to mining operators). By investing in MNRS, investors can gain exposure to the growth potential of the Bitcoin mining industry without directly investing in Bitcoin.
Grayscale provided insight into the companies involved in the fund. The ETF is diversified across 26 holdings, with the top 10 companies accounting for approximately 73% of the fund’s assets. MARA Holdings leads the pack, making up 16.66% of the fund’s assets, valued at $843,341.
Riot follows closely, accounting for 11.92% of the fund’s assets, valued at $603,636. Other notable companies in the fund include Core Scientific (9.2%), Cleanspark (4.79%), and HUT 8 (4.28%). The fund also holds companies like NVIDIA (2.8%), Intel (2.99%), and Galaxy Digital Holdings (2.4%).
Interestingly, the launch of MNRS comes at a time when interest in Bitcoin and other crypto assets is on the rise. As more institutional investors enter the market, the demand for investment products that provide exposure to the crypto ecosystem is increasing.
Grayscale’s decision to launch MNRS reflects the growing recognition of Bitcoin mining as a crucial component in the crypto ecosystem. The firm believes it is bridging the gap between traditional finance and the digital assets market by providing investors a diversified and regulated way to invest in Bitcoin miners.
Crypto Keeps Garnering Interest
The recent move by Grayscale is part of a larger trend of investors and institutions seeking crypto exposure. Bitcoin’s growing popularity, fueled by Trump’s administration, has created a sense of urgency, with many nations, states, and institutions rushing to establish a presence in the Bitcoin market.
The concept of a strategic Bitcoin reserve is gaining traction. Several countries and states are exploring the idea of holding Bitcoin as a reserve asset, which is seen as a hedge against inflation and economic uncertainty.
Meanwhile, institutions, including Bitwise and Canary Capitals, continue to file for crypto ETFs, seeking to provide investors with a regulated and accessible way to invest in digital assets.
