Grayscale continues its expansion by launching a new ETF focused on Bitcoin mining. The fund invests in companies within the Bitcoin mining industry without directly investing in digital assets.
New ETF by Grayscale
Grayscale has introduced the Grayscale Bitcoin Miners ETF (MNRS), which is anchored to the Indxx Bitcoin Miners Index. The fund will not invest directly in digital assets or derivatives but may have indirect exposure through investments.
The Role of Bitcoin Miners
Grayscale acknowledges the crucial role of Bitcoin miners in the BTC network. Miners perform essential security and operational functions, as highlighted by Grayscale. David LaValle, Grayscale's global ETF head, emphasizes the potential growth driven by miners.
Struggles of Mining Stocks in 2024
The launch of Grayscale's Bitcoin Miners ETF comes amid ongoing declines in crypto mining stocks. In 2024, many publicly listed miners ended the year with losses, some as steep as 84%.
Grayscale's new ETF targets cryptocurrency miners amidst challenging market conditions, offering investors an alternative to direct BTC investments.
