The post Grayscale Launches $MNRS: A Bitcoin Miners ETF for Pure-Play Exposure appeared on BitcoinEthereumNews.com.
The Grayscale Bitcoin Miners ETF (MNRS) offers a passive, diversified approach to the mining sector without requiring direct cryptocurrency ownership. The Bitcoin mining sector is rebounding after a challenging period following the last halving event, with miners optimizing operations and exploring new opportunities like AI applications. Grayscale, a leading crypto asset management firm, introduced the Bitcoin Miners ETF (MNRS) on Thursday with the goal of offering access to companies dealing in the Bitcoin mining space. With the growth of the Bitcoin ecosystem, the Bitcoin mining ecosystem has continued to expand further. Grayscale Bitcoin Miners ETF (MNRS) Coming Soon? The Grayscale Bitcoin Miners ETF is based on the Indxx Bitcoin Miners Index. It targets firms generating a majority of their revenue from Bitcoin mining or associated activities, such as hardware and software development. Note that the Grayscale fund avoids direct investments in digital assets or derivatives; however, it might have indirect access through its portfolio holdings. The asset manager emphasizes that this product is designed to offer a diversified, passive approach to the Bitcoin mining industry. Furthermore, it will also eliminate the need for direct cryptocurrency ownership. Commenting on the development, David LaValle, Global Head of ETFs at Grayscale, said: 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. Bitcoin Miners, the backbone of the network, are well-positioned for significant growth as Bitcoin adoption and usage increases, making MNRS an appealing option for a diverse range of investors. Asset manager Grayscale has been filing a number of ETF products recently in the market. As previously mentioned in our report, the firm filed for a Litecoin ETF earlier this week. Grayscale has introduced the Decentralized AI Fund, granting accredited investors…