Grayscale launches Bitcoin Mining ETF (MNRS), lists it on the New York Stock Exchange Arca

Grayscale Investments has officially launched the Grayscale Bitcoin Mining ETF (MNRS) and listed it on the New York Stock Exchange Arca. The exchange-traded fund (ETF) tracks the Indxx Bitcoin Miners Index, which includes firms that derive the majority of their revenue from Bitcoin mining or related services.

In a January 30 press release , Grayscale stated that the fund will offer investors who may not wish to buy Bitcoin directly exposure to publicly traded Bitcoin mining companies. At the time of this publication, the pricing of MNSR was $25.31.

Holdings grow on Grayscale’s Bitcoin Mining ETF 

According to the asset manager’s ETF website , MNRS’s top 5 holdings feature major industry players, including Marathon Holdings (16.66%), Riot Platforms (11.92%), Core Scientific (9.2%), Cleanspark (4.79%), and Australia-based energy company IREN (4.37%).

“Grayscale Bitcoin Miners ETF offers investors targeted exposure to Bitcoin Miners and the global Bitcoin Mining industry in a passively managed, rules-based, and index-tracked fund designed to evolve with the industry,” said David LaValle, Global Head of ETFs at Grayscale, in a press briefing on Thursday. 

He called Bitcoin miners the “backbone of the network,” dwelling on their potential to grow as BTC adoption increases globally, which he believes makes mining ETFs “an appealing option for investors.”

Grayscale’s latest ETF launch comes as the firm actively pursues additional cryptocurrency investment products. On January 25, the asset management firm submitted a 19b-4 form to the US Securities and Exchange Commission for a spot Litecoin ETF. 

Since former chair Gary Gensler left office, now held by pro-crypto commissioner Mark Uyeda, there has been a growing optimism within the industry that ETFs of several cryptos, outside Bitcoin and Ethereum, will be approved in the coming weeks.

Spot Bitcoin ETFs experience inflows as market bloodbath pauses

In other news developments, the broader spot Bitcoin ETF market saw a return to net inflows on January 29, buoyed by BTC’s price correction to levels above $104,000. 

Data from SoSoValue shows the 12 Bitcoin ETFs recorded $92.09 million in net inflows on Wednesday, marking the second consecutive day of positive net investments. The continuation of inflows follows the decision of the Federal Open Market Committee (FOMC) meeting, where the Fed announced a pause in interest cut rates. 

Grayscale’s Bitcoin Trust ETF (NYSE) led the 24-hour net inflow charts with $106.23 million, followed by Fidelity Wise Origin Bitcoin Fund (FBTC), which attracted $18.20 million. BlackRock’s iShares Bitcoin Trust (IBIT) recorded outflows for the second day this week, subtracting $28.37 million from the total spot BTC ETF daily inflows.

Trading volume for the 12 Bitcoin ETFs stood at $2.49 billion yesterday, approximately $500 million than Tuesday’s tally but significantly lower than the $4.8 billion recorded at the start of the business week. 

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