Grayscale, a crypto asset manager, has launched a new exchange-traded fund (ETF) to give investors exposure to companies involved in Bitcoin
$105,363.94
mining.
Announced on January 30, the Grayscale Bitcoin Miners ETF (MNRS) does not invest directly in Bitcoin or its derivatives. Instead, it focuses on firms that generate most of their revenue from Bitcoin mining, related hardware, software, or services.
The fund follows the Indxx Bitcoin Miners Index, which tracks the performance of businesses operating in the mining industry. The ETF allows investors to gain exposure to the Bitcoin mining industry without holding cryptocurrency.
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Grayscale emphasized that this fund aligns with its recognition of the essential role miners play in the Bitcoin network.
David LaValle, Grayscale’s global head of ETFs, explained that MNRS provides a structured way to invest in the mining industry. He said:
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.
He also noted that Bitcoin miners serve as the backbone of the network and could see growth as adoption increases. “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,” he added.
Meanwhile, Tuttle Capital Management recently proposed a new range of ETFs to the US Securities and Exchange Commission (SEC). What were they? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
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