Crypto Giant Grayscale Launches ETF on Bitcoin Miners

Grayscale, the first mainstream crypto-centric asset manager, announces the launch of MNRS, an exchange-traded fund (ETF) on Bitcoin (BTC) mining heavyweight stocks. It provides investors with yet another opportunity to benefit from the BTC rally without owning crypto physically.

Grayscale kickstarts Bitcoin (BTC) miners ETF MNRS: What to know

Grayscale, a U.S.-based asset management firm, announces the latest addition to its ETF products suite. Grayscale Bitcoin Miners ETF (MNRS) streamlines access for investors to the portfolio of stocks of the largest Bitcoin (BTC) mining industry players.

As explained by Grayscale in the official announcement, MNRS arrives in the form of an exchange-traded fund that is passively managed and rules-based, tracking an index that can be rebalanced as the Bitcoin (BTC) mining segment evolves.

In MNRS, the income of Bitcoin (BTC) mining companies can be considered an underlying commodity, which allows Grayscale clients to benefit from the progress of the largest cryptocurrency and its mining infrastructure. 

In its inaugural release that followed today, Jan. 30, 2025, MNRS is based on the portfolio of stocks of 25 Bitcoin (BTC) mining companies or large tech firms somehow involved with BTC operations.

The ETF debuts on NYSE under the MNRS ticker, with $25.31 per share as its initial price.

Bitcoin (BTC) hashrate adds almost 100% in 12 months

The largest portions of the underlying funds are allocated by Grayscale toward the stocks of MARA Holdings (MARA) and Riot Platforms (RIOT), two long-term flagship industrial Bitcoin (BTC) miners.

MARA and RIOT are responsible for 16.66% and 11.92% of the MNRS portfolio, respectively. Core Scientific, Cleanspark, IREN, HUT 8 and Northern Data AG are in charge of 25% of MNRS 'underlying portfolio combined.

In recent months, the Bitcoin (BTC) mining industry has been growing at an increased pace. This month, Bitcoin's (BTC) hashrate, the net number of hashes calculated by all Bitcoin (BTC) miners every second, jumped to ATH over 863 Ehash/s, Bitinfocharts data says.

Since early 2024, Bitcoin (BTC) hashrate almost doubled, which signals increased miner activity and their growing optimism about Bitcoin's (BTC) price performance.