Grayscale, a popular crypto asset manager, launched a new ETF that offers exposure to Bitcoin mining, known as Grayscale Bitcoin Miners ETF (MNRS). This is the world’s first such ETF, offering an alternative to investors who are looking for alternatives to direct investments in BTC.
This ETF will invest in companies from the Indxx Bitcoin Miners Index. This index tracks the performance of companies that earn a major chunk of their revenue from Bitcoin mining activities. However, MNRS will make no investments through derivatives.
Grayscale said that Bitcoin Miners are the backbone of the ever-growing Bitcoin community and a key component for Bitcoin adoption and usage.
‘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.’ – Grayscale.
This launch has also come at a time when the Bitcoin mining industry hasn’t been doing that great. Most of the known firms recorded losses in 2024, despite Bitcoin surging 113%. Grayscale might have seen an opportunity here, especially after the appointment of pro-crypto POTUS Donald Trump.
Whether Grayscale believes the mining industry charts have bottomed out is hard to say. However, the launch of MNRS is a positive sign in that direction. With Bitcoin looking promising to make new highs in the coming months, the whole crypto community is set to benefit, especially the meme coin segment.
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