KeyTakeaways:
- Grayscale’s Bitcoin Mining ETF offers exposure to major industry mining players.
- Top holdings in MNRS include Marathon Holdings, Riot Platforms, and Core Scientific.
- Spot Bitcoin ETFs saw $92M in inflows as Bitcoin prices surged above $104K.
Grayscale has officially launched the Grayscale Bitcoin Mining ETF (MNRS) and listed it on the New York Stock Exchange Arca. The ETF exposes investors to companies that generate revenue from Bitcoin mining or related services. This marks a significant development for the firm as it broadens its crypto-related investment products.
The ETF is designed to track the Indxx Bitcoin Miners Index, which includes top Bitcoin mining companies. As of its launch, the fund’s top five holdings are Marathon Holdings (16.66%), Riot Platforms (11.92%), Core Scientific (9.2%), Cleanspark (4.79%), and Australia-based energy company IREN (4.37%).
Investors Get Direct Exposure to Bitcoin Mining
With MNRS, investors gain a direct route to Bitcoin mining without the need to purchase Bitcoin itself. Grayscale’s approach offers a passively managed, rules-based ETF that evolves with the mining industry.
David LaValle, Global Head of ETFs at Grayscale, emphasized that Bitcoin miners are fundamental to the Bitcoin network. As global adoption of Bitcoin grows, the potential for these miners to expand presents an appealing opportunity for investors.
This launch follows Grayscale’s ongoing efforts to expand its portfolio of cryptocurrency-based ETFs. On January 25, the firm filed for a spot in Litecoin ETF, signaling its intent to diversify its offerings further.
Industry optimism is growing, particularly with the change in leadership at the U.S. Securities and Exchange Commission (SEC). Under Mark Uyeda’s new pro-crypto leadership, approving more crypto ETFs beyond Bitcoin and Ethereum seems increasingly likely.
Spot Bitcoin ETFs See Inflows
Grayscale’s move comes amid a resurgence in the broader spot Bitcoin ETF market. On January 29, spot Bitcoin ETFs saw $92.09 million in net inflows as Bitcoin’s price rebounded above $104,000.
Source: SoSoValue
This follows the Federal Reserve’s decision to pause interest rate cuts, boosting investor sentiment. The Grayscale Bitcoin Trust ETF led the pack with $106.23 million inflows, signaling strong market interest in Bitcoin-related investment products.
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