Grayscale has introduced a new crypto-related investment product focused on the Bitcoin mining sector, according to a Jan. 30 statement shared with CryptoSlate.
The new product is called the Grayscale Bitcoin Miners ETF and is designed to track the performance of Bitcoin mining companies. The fund trades under the ticker MNRS on the New York Stock Exchange Arca.
Bitcoin miners ETF
This ETF exposes investors to firms operating within the Bitcoin mining ecosystem. It specifically invests in companies listed on the Indxx Bitcoin Miners Index, a proprietary benchmark that tracks global mining firms generating most of their revenue from Bitcoin-related activities, including mining hardware, software, and services.
The fund's composition includes leading Bitcoin miners, with Marathon Digital holding the largest allocation at 16.66%, followed by Riot Platforms at 11.92% and Core Scientific at 9.2%.
Other notable allocations include CleanSpark (4.79%), Iris Energy (4.37%), and Hut 8 (4.2%). Companies such as Northern Data, Cipher Mining, Applied Digital, and Terawulf have smaller weightings, ranging between 3.59% and 4.17%.
Grayscale said that the ETF highlights the critical role of Bitcoin mining in supporting the broader crypto network.
The company noted that miners are essential to Bitcoin's transparency and long-term security. As a result, the ETF presents an alternative for investors who want indirect exposure to the top crypto without directly holding the asset, allowing them to benefit from the impact of price movements on publicly traded mining companies.
David LaValle, Grayscale's Global Head of ETFs, described the fund as a passively managed, rules-based ETF that evolves with the industry. He noted that Bitcoin miners remain the network's backbone and are positioned for significant growth as adoption increases.
US Bitcoin mining vision
Grayscale's new product launch follows a growing political interest in Bitcoin mining. During his campaign, US President Donald Trump advocated for increased domestic Bitcoin mining efforts.
At the time, his team engaged with large US miners—including Marathon Digital, Riot Platforms, and Core Scientific—to explore ways to boost domestic mining operations, enhance energy security, and create jobs.
More recently, MicroStrategy's CEO Michael Saylor and executives from Marathon Digital held discussions with representatives from Trump's administration.
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