Key Points
- Grayscale Investments launches a new investment vehicle, Grayscale Bitcoin Miners ETF, to support BTC mining industry.
- The ETF offers investors indirect exposure to Bitcoin’s volatility and strengthens the BTC network.
Digital asset management company, Grayscale Investments, has launched a new investment vehicle known as Grayscale Bitcoin Miners ETF (NYSE Arca: MNRS).
This new product, which was launched on January 30, 2025, allows investors to gain exposure to a global selection of publicly traded Bitcoin mining companies.
Strengthening the BTC Network
The Grayscale Bitcoin Miners ETF provides an avenue for investors seeking indirect exposure to Bitcoin’s volatility. It also contributes to strengthening the Bitcoin network.
The Bitcoin mining industry plays a crucial role in maintaining the integrity of the flagship asset, which is currently valued at $2 trillion.
David Lavaalle, Global Head of ETFs at Grayscale, stated that the Grayscale Bitcoin Miners ETF offers investors targeted exposure to Bitcoin Miners and the global Bitcoin mining industry.
This passively managed, rule-based, and index-tracked fund is designed to evolve with the industry. It makes MNRS an appealing option for a diverse range of investors.
ETF Operations
The MNRS will not invest directly in digital assets or any initial coin offering and will be distributed semi-annually.
Foreside Fund Services will be responsible for distributing the MNRS, while Grayscale Advisors will act as the fund’s advisor.
Growth of Crypto-Related Companies
The adoption of digital assets and web3 protocols by institutional investors and nation-states has spurred the growth of crypto-related companies.
Currently, the largest Bitcoin mining companies globally, likely to be listed in the Grayscale Bitcoin Miners ETF, have a combined market capitalization of about $32 billion.
Leading Bitcoin Mining Companies
In the United States, leading Bitcoin mining companies include Marathon Digital Holdings, Riot Blockchain, and Core Scientific.
Other significant players in the US Bitcoin mining industry include CleanSpark, TeraWulf, and Cipher Mining.
In the United Arab Emirates, Phoenix Group is the largest Bitcoin miner, while in Singapore, Bitdeer Technologies Group holds the top spot.
In Canada, Hut 8 Mining is the largest Bitcoin miner, and in Australia, the largest Bitcoin miner is IREN (Iris Energy). These companies are likely to be included in the Grayscale Bitcoin Miners ETF.
