For investors looking for differentiated exposure to the Bitcoin industry, we are excited to introduce MNRS, Grayscale Bitcoin Miners ETF. MNRS provides exposure to Bitcoin Miners and the global Bitcoin Mining industry at a time when we’re seeing unprecedented interest and growth in Bitcoin.
Why is this theme exciting?
The Bitcoin Mining industry is critical to the Bitcoin network as they perform essential functions that maintain its security, integrity, and functionality. The work of Bitcoin Miners is integral to the existence and continuation of the Bitcoin network. As adoption of Bitcoin grows, we believe the Bitcoin Mining industry will only increase in value. For investors interested in Bitcoin-adjacent opportunities, or looking for an equity expression of Bitcoin, MNRS represents a new option.
What companies are included in MNRS?
MNRS tracks the Indxx Bitcoin Miners Index, and offers exposure to companies that are:
Involved in the mining of Bitcoin and the verification of the Bitcoin network.
Providing Bitcoin mining pool services and facilitating blockchain transaction processing.
Providing the infrastructure for Bitcoin Mining – from data center hosting services to specialized hardware such as ASICs (Application-Specific Integrated Circuits) machines and GPUs (Graphics Processing Units).
Why invest in MNRS?
Focused Exposure: MNRS offers investors targeted, pure-play exposure to Bitcoin Miners and the global Bitcoin Mining Industry. MNRS delivers this in the form of an exchange-traded fund that is passively managed, rules-based, and tracking an index designed to adapt as the Bitcoin mining industry evolves.
Bitcoin-Adjacent Opportunity: Bitcoin Miners carry a high, positive longer-term correlation to the price of Bitcoin1. Rising prices in Bitcoin may lead to higher revenue and increased gross margins for the Bitcoin Mining industry. We believe this offers investors both short and long-term opportunities.
Long Term Growth Potential: Bitcoin Miners serve as the backbone for the longevity and security of the Bitcoin network. As a result, the Bitcoin Mining industry is well-positioned to grow as its underlying commodity, Bitcoin,
Grayscale is a crypto-focused asset manager. We have over a decade of operational experience managing crypto funds and pioneered the model of offering exposure to cryptocurrencies in the form of a security. We’re proud of our crypto expertise and work closely with individual and institutional investors as they explore this asset class as part of their portfolio allocation.
For more information about MNRS, Grayscale, or any of our products, don’t hesitate to reach out to us at info@grayscale.com or call 866-775-0313 to speak with one of our portfolio consultants.
1 Source: Bloomberg, L.P. 3/31/2022 – 12/31/2024. Correlation is measured by the daily performance results between the Indxx Bitcoin Miners Index (IBMIIN) and the CoinDesk Bitcoin Price Index (XBX).
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (866)-775-0313 or visit our website at etfs.grayscale.com/mnrs. Read the prospectus or summary prospectus carefully before investing.
Investing involves risk and possible loss of principal. Shares of ETFs may trade at a premium or discount to their net asset value.
Grayscale Bitcoin Miners ETF (“MNRS” or “the Fund”) is non-diversified therefore shares may rise and fall more than the value of shares of a fund that invests in securities of companies in a broader range of industries. MNRS is passively managed and attempts to mirror the composition and performance of the Indxx Bitcoin Miners Index (the “Index”). The Fund’s returns may not match due to expenses incurred by the Fund or lack of precise correlation with the Index.
The Fund is new and has limited operating history to judge. Investments in foreign securities may involve risks such as social and political instability, market illiquidity, exchange-rate fluctuations, a high level of volatility and limited regulation. These risks are magnified in emerging markets. Investments made in small to mid-capitalization companies are subject to greater risks than large company stocks due to limited resources and inventory, as well as being more sensitive to adverse conditions.
The Fund will not invest in digital assets directly or through the use of derivatives. The Fund also will not invest in initial coin offerings. The Fund may, however, have indirect exposure to digital assets by virtue of its investments in companies that use one or more digital assets as part of their business activities or that hold digital assets as proprietary investments. Because the Fund will not invest directly in any digital assets, it will not track price movements of any digital assets.
Global bitcoin mining companies that generate revenue from bitcoin mining activities or mining related hardware, software, and/or services and/or project (collectively, “Bitcoin Mining Companies”) rely heavily on the success of the digital currency industry, the development and acceptance of which is subject to a variety of factors that are difficult to evaluate. Blockchain technology is new and many of its uses may be untested. The development and acceptance of competing platforms or technologies may cause consumers or investors to use an alternative to blockchains. Digital assets that are represented on a blockchain and trade on a digital asset exchange may not necessarily benefit from viable trading markets. Digital commodities and their associated platforms are largely unregulated, and the regulatory environment is rapidly evolving.
The Index is designed by Indxx (the “Index Provider”) to consist of U.S. and non U.S. equity securities of companies that have been classified by the Index Provider as providing exposure to Bitcoin Mining Companies. Index returns assume that dividends are reinvested and do not include the effect of management fees or expenses. It is not possible to invest directly in an index.
MNRS is distributed by Foreside Fund Services, LLC and Grayscale Advisors, LLC is the adviser.
This communication is not directed at any person located outside the United States. Neither the Trust nor Grayscale is making an offer to sell shares or soliciting any offer to buy shares to any person located in any jurisdiction other than the United States.
This communication is the sole responsibility of the sponsor. Neither Coindesk, Inc nor any of its affiliates (“Coindesk”) are responsible for the content of this communication. Coindesk does not intend to make any offer or solicitation to any person with respect to any products and/or services referred to in this communication.
