This ETF was launched today, and it gives investors an easy way to gain exposure to the Bitcoin mining industry directly, bypassing direct Bitcoin holding requirements.
Grayscale has launched a new exchange-traded fund (ETF) that gives investors an easy way to gain exposure to the Bitcoin mining industry without having to hold any Bitcoin themselves.
The firm announced the launch of the Grayscale Bitcoin Miners ETF (MNRS) on Monday. It will be traded on the New York Stock Exchange Arca under the ticker MNRS.
The ETF is designed to closely track the performance of companies that mine Bitcoin. It will invest in a basket of stocks that are included in the Indxx Bitcoin Miners Index.
This index specifically targets companies whose principal source of earnings is derived from mining Bitcoin or providing ancillary services related to the industry. These services can range from providing mining software and equipment to setting up and maintaining the infrastructure that keeps the Bitcoin network running.
"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," said David LaValle, Grayscale's Global Head of ETFs.
Essentially, Grayscale is betting that as more people adopt Bitcoin, the companies that are responsible for securing and supporting the network will become very valuable.
The fund's top holdings include leading Bitcoin miners such as Marathon Digital (NASDAQ:MARA) (16.66%), Riot Platforms (NASDAQ:RIOT) (11.92%), and Core Scientific (NYSE:CORE) (9.2%). It will also invest in smaller mining companies like CleanSpark (NASDAQ:CLNO), Iris Energy (NYSE:IREN), and Hut 8 (TSX: HUT) (9.2%).
These companies will provide the hardware and software needed to keep Bitcoin mining operations running smoothly, and they will be crucial for ensuring the continued security and stability of the network.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
