Key dealers
- Grayscale launched a Bitcoin miner ETF, focusing on global mining companies.
- ETF provides exposure to Bitcoin miners without direct investment in digital assets.
Grayscale, a leading asset management company that specializes in crypto investments, launches its Bitcoin miners ETF and aims to offer investors exposure to Bitcoin miners and the global mining ecosystem through companies specified in the Indxx Bitcoin Miners Index.
The fund, which is traded under Ticker MNR, invests in companies that retrieve most of their revenues from Bitcoin Mining or Companies that provide Bitcoin Mining Services, according to EN 30 January press release.
The index also includes companies that offer bitcoin mining infrastructure, such as data centers host services, hardware manufacturers and software suppliers.
The Indxx bitcoin miners indexAs the latest update, is heavily weighted against some important players in the Bitcoin mining industry.
Mara Holdings tops the list of 16.65%, with riot platforms and scientific cores of 11.92%and 9.2%respectively. These three alone make up over one third of the entire index. Other remarkable constituents include cleaning and Iren, but at lower weights.
The fund will not invest directly in digital assets or through derivatives, nor will it participate in the first coin offers. However, its results are expected to be correlated with Bitcoin’s price due to the nature of the companies it invests in.
ETF is aimed at investors who seek exposure to the Bitcoin ecosystem without direct investment in digital assets themselves. The fund focuses on companies that support the Bitcoin network’s transparency and security through mining operations.
“Bitcoin miners, the backbone of the network, are well positioned for significant growth when Bitcoin adoption and use increase, making MNRs an appealing alternative for a wide range of investors,” said David Lavalle, Global Head of ETFS at Grayscale.