Today, Grayscale launched its latest cryptocurrency fund, the Grayscale Bitcoin Miners ETF (MNRS).
MNRS focuses on providing results similar to that of the Indxx Bitcoin Miners Index. This fund has a net expense ratio of 59 basis points.
The Indxx Bitcoin Miners Index focuses on companies exposed to bitcoin mining companies across the globe. As such, the index may consist of companies in or outside of the United States.
Companies chosen for inclusion tend to be pure-play stocks that generate at least 50% of revenue from bitcoin mining operations. That said, the index may also include companies with more diversified revenue streams.
To provide similar results to the index, MNRS tends to use a full replication strategy. However, should circumstances call for it, the fund may instead opt for a representative sampling strategy.
Advantages of Bitcoin Miner Exposure
“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,” said David LaValle, Grayscale’s global head of ETFs. "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.”
Small-, mid, and large-cap companies across the globe may be included within MNRS’ portfolio. Additionally, the fund may have similar industry concentration to that of its underlying index.
Now listed in U.S. markets, MNRS leverages Grayscale’s experience in managing cryptocurrency-focused strategies. All in all, Grayscale’s library of crypto ETFs accounts for well over $30 billion in assets under management.
“As the crypto craze continues in 2025, the new launch will provide a much-needed entry point into the nascent crypto mining industry,” added Kirsten Chang, senior industry analyst at VettaFi. “Grayscale has shown itself to be a strong brand in the cryptocurrency space, and advisors are increasingly interested in gaining access via equities rather than just the digital assets themselves.”
For more information, please visit VettaFi.com | ETF Trends.
