Crypto Asset Management Firm Grayscale launches a new Bitcoin (BTC) Mining Exchange-Traded Fund (ETF).
According to a new press release, Grayscale announced The launch of the Grayscale Bitcoin Miners ETF (MNRS), a fund that invests in its own BTC index that is designed to measure the performance of companies that obtain the majority of their funds by mining the Crypto King.
ETFs enable traders to expose themselves to specific assets, such as gold or cryptocurrencies, without ever having to buy a physical product.
As mentioned by David Lavalle, global head of ETFs in Grayscale, in the press release,
“Gray values Bitcoin Miners ETF offers investors on the targeted exposure to Bitcoin miners and the global Bitcoin mining industry in a passive management, based on rules and index-attracted fund designed to evolve with industry.
Bitcoin Miners, the backbone of the network, are well positioned for considerable growth as the acceptance of Bitcoin and use increases, making MNRS an attractive option for a diverse range of investors. ”
On the official website, Grayscale out The fact that MNRS offers both growth opportunities in the short and long term for investors due to the correlation with the price of the top crypto-active per market capitalization.
“Bitcoin miners have a high, positive correlation in the longer term with the price of Bitcoin. Rising prices in Bitcoin can lead to higher turnover and increased gross margins for the Bitcoin mining industry. This can offer investors both short and long term opportunities. ”
Mnrs acts for $ 26.64 at the time of writing, a fractional increase during the last 24 hours.
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Featured image: Shutterstock/Andy Chipus/Nextmarsmedia