Grayscale Investments announced the launch of its Bitcoin Mining ETF and its listing on NYSE Arca.
Launch of Bitcoin Mining ETF
Grayscale Investments has officially launched the Grayscale Bitcoin Mining ETF (MNRS) and listed it on the New York Stock Exchange Arca. The ETF tracks the Indxx Bitcoin Miners Index, which includes firms that derive the majority of their revenue from Bitcoin mining or related services.
Fund Details and Expert Comments
According to a January 30 press release, the fund offers investors who may not wish to buy Bitcoin directly exposure to publicly traded Bitcoin mining companies. At the time of this publication, the pricing of MNSR was $25.31. MNRS’s top holdings include major industry players like Marathon Holdings (16.66%), Riot Platforms (11.92%), Core Scientific (9.2%), Cleanspark (4.79%), and Australia-based energy company IREN (4.37%). David LaValle, Global Head of ETFs at Grayscale, noted in a press briefing that Bitcoin miners are 'the backbone of the network,' emphasizing their growth potential as BTC adoption increases.
Current Trends in Bitcoin ETF Market
Beyond the launch of MNRS, Grayscale is actively pursuing additional cryptocurrency investment products, including a spot Litecoin ETF. Meanwhile, there is a noticeable influx of investments into existing Bitcoin ETFs, as shown by data depicting net inflows by the end of January. This activity coincides with a correction in BTC's price to levels above $104,000.
The launch of Grayscale's new ETF highlights their ongoing activity in crypto trading, aligning with positive trends in the Bitcoin market.
