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Grayscale launches Bitcoin Miners ETF on NYSE Arca

  • Grayscale Bitcoin Miners ETF (MNRS) launched on the New York Stock Exchange on Jan. 30, 2025.
  • The ETF provides exposure to global Bitcoin mining companies, including Marathon Holdings, Riot Platforms and Core Scientific.
  • Grayscale Bitcoin Miners ETF is passively managed and offers ” targeted, pure-play” exposure.

Grayscale has launched a new exchange-traded fund dubbed The Bitcoin Mining ETF (MNRS).

Per details in a press release on Jan. 30, the ETF is live on the New York Stock Exchange Arca and provides investment exposure to Bitcoin mining companies.

MNRS will track the Indxx Bitcoin Miners Index and will not offer direct exposure to the BTC price.

“Grayscale Bitcoin Miners ETF offers investors targeted, pure-play exposure to Bitcoin Miners and the 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,” the company wrote on the MNRS page.

Fund includes Marathon, Riot and Core Scientific

The Grayscale Bitcoin Miners ETF’s current composition includes top mining companies such as Marathon Holdings, Riot Platforms and Core Scientific. MARA makes up 16.66% of the fund, while RIOT and CORZ make up 11.92% and 9.2% respectively.

Other BTC mining companies in the fund are Cleanspark Inc., IREN Ltd, HUT 8 CORP, Northern Data AG, Cipher Mining Inc., Terawulf Inc and Applied Digital Corp.

“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,” David LaValle, global head of ETFs at Grayscale, said in a statement.

MNRS’ current market price is $25.31.

The post Grayscale launches Bitcoin Miners ETF on NYSE Arca appeared first on CoinJournal.

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El Salvador approves new bill to comply with IMF deal

  • The reform passed with 55 votes, with only two against
  • El Salvador became the first country to accept Bitcoin as legal tender in 2021
  • In December, El Salvador announced it was changing its Bitcoin law to secure a $1.3bn loan from the IMF

El Salvador’s Congress has approved a bill to change its Bitcoin law to comply with a deal it struck with the International Monetary Fund (IMF).

On January 29, Reuters reported that the bill was approved minutes after President Nayib Bukele sent it.

The reform passed with 55 votes, with only two against. Under El Salvador’s Bitcoin law, it required businesses to accept Bitcoin if they were able to do so. Ruling party lawmaker Elisa Rosales said it was required to ensure Bitcoin’s “permanence as legal tender” while facilitating its “practical implementation.”

Legal tender

El Salvador became the first country to accept Bitcoin as legal tender in 2021. At the time, it was reported that all businesses must accept Bitcoin. The move soon attracted the attention of the IMF.

Following El Salvador’s adoption of Bitcoin in 2021, the IMF sent a statement in November 2021 “recommend[ing] narrowing the scope of the Bitcoin law” while “strengthening the regulation and supervision of the new payment system.”

This was again called for in January 2022, when the IMF advised El Salvador to reconsider its decision to make Bitcoin the country’s legal tender. More recently, the IMF recommended that El Salvador limit the public’s exposure to Bitcoin.

New deal

In December, El Salvador changed its Bitcoin plans to secure a $1.3 billion loan from the IMF.

Under the plans, El Salvador would change a legal requirement making businesses accept Bitcoin as payment, making it optional instead. The government would also reduce the budget deficit by 3.5% of GDP over three years through spending cuts and tax rises while boosting reserves from $11 billion to $15 billion.

The deal is also expected to unlock a further $1 billion in lending from the World Bank and $1 billion from the Inter-American Development Bank over the next few years.

The post El Salvador approves new bill to comply with IMF deal appeared first on CoinJournal.