Grayscale Launches Bitcoin Miners ETF for Targeted Industry Exposure

Grayscale Launches Bitcoin Miners ETF to Offer BTC Mining Exposure

Grayscale Investments, a leading digital asset management firm, has launched the Grayscale Bitcoin Miners ETF (MNRS), providing investors with targeted exposure to the global Bitcoin mining industry. The ETF, listed on the New York Stock Exchange Arca, tracks the performance of the Indxx Bitcoin Miners Index, which includes companies that generate most of their revenue from Bitcoin mining or related services.

The top ten holdings of the ETF include Marathon Holdings (16.66%), Riot Platforms (11.92%), and Core Scientific (9.2%), among other major mining companies. The fund aims to provide investors with a passively managed, rules-based, and index-tracked fund that evolves with the industry, offering an alternative to direct BTC investment or for those who lack access or are not ready to invest directly in BTC.

Grayscale's Global Head of ETFs, David LaValle, stated that Bitcoin miners, the backbone of the network, are well-positioned for significant growth as Bitcoin adoption and usage increase, making MNRS an appealing option for a diverse range of investors. The launch of the Bitcoin Miners ETF comes amid crypto mining stocks extending losses in late January following an abrupt market downturn triggered by the frenzy over DeepSeek's new AI model.

While Grayscale pointed to a correlation between the performance of Bitcoin and the mining industry, miners' stocks struggled to capitalize on Bitcoin's 113% returns in 2024. According to data from the Hashrate Index and Google Finance, the average decline in mining stocks reached as much as 84% following the market downturn.