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MNRSGrayscale Bitcoin Miners ETF

Grow my money1y track recordRanked #2,234 of 2,992 in this goal

Tracks the performance of the Indxx Bitcoin Miners Index.

By Grayscale · Launched 2025

Annual Cost

0.59%

#3,116 of 5,854 · average

Fund Size

$16M

#4,589 of 5,854 · small

Return (1Y)Goal

+31.3%

Track Record

1 year

#4,030 of 5,854 · young

Performance

Total-return NAV · USD
Growth of $10,000
$12,947+29.5%

Total-return NAV, USD. Net of fund fees, before tax.

What's inside

How Beacon categorizes this fund

Asset class

Equity

Region

Global

Strategy

Index tracking

Sector

Information technology

Index tracked

Indxx Bitcoin Miners Index

What it actually holds

By weight

Concentration

Top 10 holdings = 85.7% of fundconcentrated

First American Government Obli
17.8%
IREN Ltd
15.4%
Applied Digital Corp
13.1%
Cipher Digital Inc
10.0%
Terawulf Inc
6.2%
Core Scientific Inc
5.2%
Riot Platforms Inc
4.8%
Hut 8 Corp
4.8%
MARA Holdings Inc
4.4%
Bitdeer Technologies Group
4.1%

Asset allocation

Stocks
99.3%
Cash
0.7%
Other
0.0%

By sector

Financial Services
56.3%
Technology
41.4%
Utilities
2.3%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
75.9%High

Year-on-year price swings

Max drawdown
-56.7%Severe

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Listing

Exchange
NYSE Arca

Full fund details

Objective
Tracks the performance of the Indxx Bitcoin Miners Index.
Strategy
Employs a passive management investment approach to replicate the performance of the Indxx Bitcoin Miners Index by investing at least 80% of net assets in equity securities and depositary receipts of Bitcoin Mining Companies. The Fund may invest in small-, mid-, and large-capitalization companies and has significant exposure to the Information Technology sector.
Inception date
January 29, 2025
Fund family
Grayscale

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Thematic
Warning

These usually launch after the gains are gone

A theme gets packaged into a fund after it has already run. Over the past 15 years, fewer than one in 10 thematic funds beat a broad global index, and more than three-quarters closed down entirely. The pitch always sounds good. The returns rarely follow.

Sources: Morningstar, 'Global Thematic Funds Landscape' (2022)

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-08-03