Grayscale Launches Bitcoin Miners ETF to Enhance BTC Mining Exposure

Grayscale Investments has launched the Grayscale Bitcoin Miners ETF (NYSE Arca: MNRS) on January 30, 2025. This investment vehicle allows investors to gain exposure to publicly traded BTC mining companies globally.

MNRS provides indirect exposure to Bitcoin's volatility.
The ETF will not invest directly in digital assets or ICOs.
Distribution will occur semi-annually.
Foreside Fund Services will handle distribution; Grayscale Advisors will serve as the fund advisor.

Key Details About the Bitcoin Mining Industry

The market capitalization of leading Bitcoin mining companies is approximately $32 billion.
Major US miners include Marathon Digital Holdings ($6.25 billion), Riot Blockchain ($3.85 billion), and Core Scientific ($3.2 billion).
Other notable US companies are CleanSpark ($2.8 billion), TeraWulf ($1.8 billion), and Cipher Mining ($1.56 billion).
In the UAE, Phoenix Group leads with a valuation of $2 billion.
Bitdeer Technologies Group in Singapore has a valuation of $3.3 billion.
Hut 8 Mining in Canada is valued at $1.8 billion.
Australia's largest miner likely included in MNRS is IREN (Iris Energy) at $2.13 billion.