Grayscale Launches Bitcoin Mining ETF (MNRS) Tracking Indxx Bitcoin Miners Index

Grayscale has launched a new exchange-traded fund dubbed The Bitcoin Mining ETF (MNRS). Per details in a press release on Jan. 30, the ETF is live on the New York

Grayscale has launched a new exchange-traded fund (ETF) dubbed The Bitcoin Mining ETF (MNRS). The ETF will begin trading on the New York Stock Exchange Arca on Jan. 30.

The ETF is designed to provide investors with exposure to the performance of Bitcoin mining companies, without directly investing in the price of BTC itself. The fund will track the Indxx Bitcoin Miners Index, which is composed of leading publicly traded Bitcoin mining companies.

“Grayscale Bitcoin Miners ETF offers investors targeted, pure-play exposure to Bitcoin Miners and the Bitcoin Mining Industry. MNRS delivers this in the form of an exchange-traded fund that is passively managed, rules-based, and tracking an index designed to adapt as the Bitcoin Mining industry evolves,” the company wrote on the MNRS page.

The fund will be overseen by Grayscale, a leading digital currency asset manager. Grayscale currently manages over $40 billion in assets, including the Grayscale Bitcoin Trust (GBTC), the world’s largest cryptocurrency fund.

Top mining companies included in Grayscale Bitcoin Miners ETF

The Grayscale Bitcoin Miners ETF will be available to investors through a variety of brokerage firms. The ETF will trade under the ticker symbol “MNRS.”

The fund’s current composition includes top mining companies such as Marathon Holdings (MARA), Riot Platforms (RIOT) and Core Scientific (CORZ). Holdings are weighted by fully diluted enterprise value.

MARA makes up 16.66% of the fund, while RIOT and CORZ make up 11.92% and 9.2% respectively. Other BTC mining companies in the fund are Cleanspark Inc., IREN Ltd, HUT 8 CORP, Northern Data AG, Cipher Mining Inc., Terawulf Inc and Applied Digital Corp.

The fund will be rebalanced on a quarterly basis. Grayscale may also add or remove companies from the fund at its discretion.

MNRS’ current market price is $25.31.