YEREVAN (CoinChapter.com) — Grayscale has launched a Bitcoin Miners ETF (MNRS) to offer investors access to Bitcoin mining firms and infrastructure. The ETF, announced on Jan. 30, tracks companies engaged in BTC mining and related services.
The fund follows the Indxx Bitcoin Miners Index, which includes firms generating most of their revenue from Bitcoin mining, mining hardware, software, and services. Grayscale confirmed that the ETF does not directly hold Bitcoin (BTC) or derivatives but may have indirect exposure through its investments.
Bitcoin Miners’ Role in the BTC Network
Bitcoin miners play a key role in securing the network and processing transactions. Grayscale emphasized that mining operations are critical for the integrity and functionality of Bitcoin.
“The work of Bitcoin miners is integral to the existence and continuation of the Bitcoin network,”
Grayscale stated.
The firm also noted that the performance of Bitcoin mining stocks often aligns with BTC price movements, making mining companies an alternative investment option for those seeking BTC exposure without holding the asset directly.
Bitcoin Miners ETF Launches as Mining Stocks Face Declines
Grayscale’s Bitcoin Miners ETF (MNRS) comes as Bitcoin mining stocks struggle to match BTC’s 113% gains in 2024. While Bitcoin saw significant growth, many publicly listed Bitcoin miners ended the year in decline.
According to Hashrate Index and Google Finance, some mining stocks fell by as much as 84% in late January. The downturn followed a market correction driven by interest in DeepSeek’s new AI model.
Grayscale Bitcoin Miners ETF Focuses on Industry Trends
Grayscale’s Bitcoin Miners ETF (MNRS) tracks firms operating in the global BTC mining sector. The fund is passively managed and index-tracked, aligning with market developments.
“Bitcoin Miners, the backbone of the network, are well-positioned for significant growth as Bitcoin adoption and usage increase,”
said David LaValle, Grayscale’s Global ETF Head.
MNRS allows investors to gain exposure to Bitcoin mining companies without the need to invest in BTC directly.
Moreover, as of Jan. 30, 2025, Bitcoin (BTC) is trading at $106,133, with a slight 0.22% increase. The TradingView chart also captures Bitcoin’s recent price movements, highlighting both gains and corrections over the past few weeks.
The chart also shows the Relative Strength Index (RSI) at 59.12, indicating moderate market momentum.
