Grayscale Launches Bitcoin Mining ETF on NYSE Arca

Grayscale Investments launched the Grayscale Bitcoin Miners exchange-traded fund (MNRS) on NYSE Arca on Thursday, providing investors with another way to gain exposure to Bitcoin mining firms.

This ETF tracks the Indxx Bitcoin Miners Index, which measures the performance of companies primarily engaged in Bitcoin mining or related operations, including hardware, software, and services.

Exposure to Leading Bitcoin Miners

The firm said the Grayscale Bitcoin Miners ETF is designed to provide targeted exposure to publicly traded Bitcoin mining companies, many of which are highly correlated with Bitcoin’s price movements .

The ETF’s top ten holdings include some of the industry’s most prominent players, such as Marathon Digital Holdings with 16.6% exposure, Riot Platforms with 11.9% exposure, and Core Scientific at 9.2%.

These companies play an essential role in securing the Bitcoin network and ensuring its long-term decentralization and transparency.

“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.

“Bitcoin Miners, the backbone of the network, are well-positioned for significant growth as Bitcoin adoption and usage increases, making MNRS an appealing option for a diverse range of investors,” adds LaValle.

While these Bitcoin mining companies shape the ETF’s core focus, Grayscale also recently modified its broader crypto fund allocations.

Grayscale Adjusts Fund Holdings for BTC and ETH Products

Earlier this month, Grayscale announced adjustments to its Digital Large Cap Fund (GDLC) allocation with Bitcoin (BTC) and Ethereum (ETH) now comprising nearly 90% of the portfolio.

According to the announcement , GDLC allocates 73.52% to Bitcoin and 16.16% to Ethereum, collectively forming almost 90% of the fund’s composition.

The remaining holdings include XRP (5.05%), Solana (3.83%), and Cardano (1.44%).