Grayscale launches an ETF based on the stocks of the largest miners around the world

The basket includes securities of American, Canadian, Australian, German, Japanese, Japanese, Singaporean, and Chinese companies

30.01.2025 - 15:30

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3 min

What’s new? Crypto investment company Grayscale has launched the Bitcoin Miners ETF, an exchange-traded fund (ETF) that allows investors to gain global exposure to stocks of companies in the bitcoin mining industry. The product under the ticker MNRS is available on the NYSE Arca exchange, with the largest holdings in the basket being shares of the largest US companies by capitalization, Marathon Digital (MARA), Riot Platforms (RIOT), and Core Scientific (CORZ): together they hold 37,78% of the fund’s portfolio.

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What else is known? US companies Cleanspark (CLSK), Terawulf (WULF), Cipher Mining (CIFR), Bit Digital (BTBT), Stronghold Digital (SDIG), Applied Digital (APLD), and Block (XYZ) also hold less than 5% of the basket.

Also allocated less than 5% are Australia’s Iris Energy (IREN), Canada’s Hut 8 (HUT), Bitfarms (BITF) and HIVE Digital (HIVE), Germany’s Northern Data AG (NB2), Japan’s GMO Internet (9449) and SBI Holdings (8473), Singapore’s Bitdeer (BTDR) and BitFuFu (FUFU), China’s Canaan (CAN) and The9 Ltd (NCTY).

Grayscale has opened an XRP-based trust for accredited investors

Shares of the Trust are designed to track the market price of XRP with fewer fees and expenses

The basket also includes shares of Intel (INTC) and Nvidia (NVDA), as their chips and GPUs are used in cryptocurrency mining.

Trading of MNRS fund shares is available through a brokerage account on Etrade platforms from Morgan Stanley Bank, Interactive Brokers, Charles Schwab, Fidelity Investments, TD Ameritrade, and Robinhood.

The company emphasized that the mining industry is critical to Bitcoin because its members ensure the security, integrity, and functionality of the blockchain.

US will launch ETFs based on securities of companies investing in BTC

The fund’s issuer will be Donald Trump associate Vivek Ramaswamy’s Strive company

The press release also notes that mining stocks have a high positive long-term correlation with BTC. Rising bitcoin prices as a result of its wider adoption could lead to increased revenue for the mining industry and offer investors both short-term and long-term opportunities.

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