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Grayscale Investments launched the Grayscale Bitcoin Miners exchange-traded fund (MNRS) on NYSE Arca on Thursday, providing investors with another way to gain exposure to Bitcoin mining firms.
This ETF tracks the Indxx Bitcoin Miners Index, which measures the performance of companies primarily engaged in Bitcoin mining or related operations, including hardware, software, and services.
“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,” adds LaValle.
“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, global head of ETFs at Grayscale.
According to the announcement, GDLC allocates 73.52% to Bitcoin and 16.16% to Ethereum, collectively forming almost 90% of the fund’s composition. The remaining holdings include XRP (5.05%), Solana (3.83%), and Cardano (1.44%).
Earlier this month, Grayscale announced adjustments to its Digital Large Cap Fund (GDLC) allocation with Bitcoin (BTC) and Ethereum (ETH) now comprising nearly 90% of the portfolio.