Grayscale Launches Bitcoin Miners ETF, Tapping into Global Mining Ecosystem

Grayscale rolls out Bitcoin Miners ETF, tapping into global Bitcoin mining ecosystem

Cryptocurrency asset manager Grayscale has launched an exchange-traded fund (ETF) that offers investors exposure to Bitcoin mining companies. The Grayscale Bitcoin Miners ETF (NYSEARCA:MNRS) invests in companies that comprise the Indxx Bitcoin Miners Index, including MARA Holdings, Riot Platforms, CleanSpark, Hut 8, and Core Scientific.

The fund, which tracks the Indxx Bitcoin Miners Index, is designed for investors looking to gain exposure to the Bitcoin mining industry without directly investing in the cryptocurrency. Bitcoin miners play a key role in the Bitcoin network, using powerful computers to solve complex mathematical problems that secure transactions and maintain network operations. In return, miners are rewarded with newly minted Bitcoin.

The MNRS ETF invests in companies that generate most of their revenue from mining operations or related activities, such as producing mining hardware and software. As of writing, the ETF’s top ten holdings include major mining companies such as Marathon Holdings, Riot Platforms, CleanSpark, Hut 8, and Core Scientific.

David LaValle, Grayscale’s Global Head of ETFs, said the fund offers “targeted exposure” to the Bitcoin mining industry and is structured to evolve with the sector. The launch of the Grayscale 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, with some declines reaching as much as 84%.

Grayscale’s Bitcoin Miners ETF launch comes as the company continues to expand its crypto investment offerings. The firm has previously launched ETFs for Litecoin and Solana, and it is exploring the possibility of creating products for other popular digital assets. As the cryptocurrency market evolves, Grayscale is positioning itself as a leader in the space, offering investors innovative ways to gain exposure to the growing ecosystem.