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Grayscale Investments has launched the Grayscale Bitcoin Miners ETF, offering investors exposure to bitcoin mining firms, as the industry continues to expand.
Grayscale Launches Bitcoin Miners ETF for Crypto-Focused Investors
Crypto asset management firm Grayscale Investments announced on Thursday that it has introduced the Grayscale Bitcoin Miners ETF (Ticker: MNRS), a new exchange-traded fund designed to provide investors with exposure to the bitcoin mining industry.
“Grayscale Bitcoin Miners ETF is Grayscale’s latest exchange-traded product offering investors exposure to bitcoin miners and the bitcoin mining ecosystem,” the company stated, adding:
The fund specifically invests in companies that comprise the Indxx Bitcoin Miners Index, a proprietary index designed to measure the performance of global bitcoin mining companies that generate the majority of their revenue from bitcoin mining activities or mining-related hardware, software, services, and/or projects.
By investing in mining firms rather than directly in digital assets, the fund offers an alternative for those seeking exposure to the bitcoin ecosystem without directly holding cryptocurrencies.
David LaValle, Global Head of ETFs at Grayscale, further highlighted the significance of the ETF, stating:
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.
He added that bitcoin miners are fundamental to the network’s infrastructure and are poised for growth as adoption and usage increase, making the MNRS ETF an attractive option for a wide range of investors.
Grayscale clarified that the fund will not directly invest in bitcoin, other digital assets, or initial coin offerings. However, it may have indirect exposure to cryptocurrencies through companies that integrate digital assets into their operations. The MNRS ETF is distributed by Foreside Fund Services LLC, while Grayscale Advisors LLC serves as the adviser.