Bitcoin mining industry gets boost with Grayscale latest ETF launch
Bitcoin mining industry gets boos
Grayscale Investments has launched its latest exchange-traded fund (ETF), the Grayscale Bitcoin Mining ETF (MNRS), on the New York Stock Exchange Arca.
The fund tracks the Indxx Bitcoin Miners Index, which includes companies generating the majority of their revenue from Bitcoin mining and related services, according to Cryptopolitan.
The launch of MNRS provides investors with an alternative way to gain exposure to the Bitcoin mining sector without directly purchasing Bitcoin. The ETF’s top five holdings include Marathon Holdings (16.66%), Riot Platforms (11.92%), Core Scientific (9.2%), Cleanspark (4.79%), and IREN (4.37%), an Australia-based energy company.
A growing market for Bitcoin ETFs
David LaValle, Global Head of ETFs at Grayscale, described Bitcoin miners as the “backbone of the network,” emphasizing their growth potential as Bitcoin adoption expands worldwide. The MNRS ETF, he said, is designed to “evolve with the industry” while offering a passively managed, rules-based investment approach.
Grayscale has been at the forefront of cryptocurrency investment products and is actively seeking regulatory approval for new funds. On January 25, the firm submitted a 19b-4 form to the U.S. Securities and Exchange Commission (SEC) to launch a spot Litecoin ETF, signaling continued expansion beyond Bitcoin and Ethereum.
Meanwhile, the broader spot Bitcoin ETF market has seen renewed investor interest, with net inflows of $92.09 million recorded on January 29, following Bitcoin’s price stabilization above $104,000.
As regulatory sentiment toward cryptocurrency investments softens, industry analysts anticipate further approvals for crypto-focused ETFs, potentially broadening institutional participation in the market.
Recently, Bitcoin mining difficulty dropped by 2.12% to 108.11 T, ending an eight-cycle growth streak. The adjustment ensures network stability as BTC price fell below $100K.
