MNRS - ETF AI Analysis
Top Page
Grayscale Bitcoin Miners ETF (MNRS)
Rating:51Neutral
Price Target:―
Positive Factors
Strong Year-to-Date Performance
The ETF has delivered strong gains so far this year, showing solid momentum over the longer recent period despite short-term volatility.
Top Holdings with Strong Gains
Several of the largest positions, such as Hut 8, Core Scientific, Riot Platforms, and others, have posted strong year-to-date performance, helping drive the fund’s returns.
Focused Exposure to Bitcoin Miners
The fund’s concentration in bitcoin mining companies offers targeted exposure for investors who want to benefit from strength in the digital asset mining industry.
Negative Factors
High Stock Concentration
A small number of holdings, especially IREN and Hut 8, make up a large share of the portfolio, increasing the impact of any sharp moves in these individual stocks.
Short-Term Performance Weakness
The ETF has recently experienced a weak one-month performance, highlighting its sensitivity to short-term swings in the bitcoin and crypto-related markets.
High Sector and Geographic Concentration
The fund is heavily tilted toward U.S.-listed financial and technology names with very limited exposure outside the U.S., which reduces diversification across sectors and regions.
MNRS vs. SPDR S&P 500 ETF (SPY)
AUM11.56M
RegionGlobal
Expense Ratio0.59%
Beta2.24
IssuerGrayscale
Inception DateJan 30, 2025
Dividend Yield0.43%
Asset ClassEquity
Index TrackedIndxx Bitcoin Miners Index - Benchmark TR Net
Share Statistics
EPS (TTM)N/A
Shares OutstandingN/A
10 Day Avg. Volume3,800
30 Day Avg. Volume6,365
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
64.04Price Target Upside― Downside
Rating ConsensusStrong Buy
Number of Analyst Covering26
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
MNRS Summary
The Grayscale Bitcoin Miners ETF (MNRS) follows the Indxx Bitcoin Miners Index, focusing on companies that earn most of their money from bitcoin mining and related services. It mainly holds U.S. firms in the financial and technology space, including well-known names like Riot Platforms and Core Scientific. Investors might consider MNRS if they want targeted exposure to the growth potential of bitcoin and the broader blockchain theme, without picking individual mining stocks. However, this ETF is highly tied to bitcoin prices and can be very volatile, so its value may swing sharply up or down with the crypto market.
How much will it cost me?The Grayscale Bitcoin Miners ETF (MNRS) has an expense ratio of 0.59%, which means you’ll pay $5.90 per year for every $1,000 invested. This is higher than average because it is actively managed and focuses on a niche sector like bitcoin mining, which requires specialized expertise. It’s important to consider this cost when evaluating your investment options.
What would affect this ETF?The Grayscale Bitcoin Miners ETF (MNRS) could benefit from increasing global adoption of blockchain technology and rising interest in bitcoin, which may drive demand for mining services. However, it faces risks from regulatory changes targeting cryptocurrency, fluctuating bitcoin prices, and rising energy costs that could negatively impact mining profitability. Its heavy exposure to financial and technology sectors makes it sensitive to broader economic conditions and innovation trends.
MNRS Top 10 Holdings
MNRS is essentially a pure play on bitcoin mining, with heavy exposure to a handful of U.S.-listed miners and a dash of global fintech. IREN sits in the driver’s seat: its recent rebound and big cloud deal with Microsoft give the fund some upside spark, even as its longer-term performance looks mixed. Riot Platforms and Cleanspark have been losing steam lately, acting as a drag despite strong year-to-date runs. Nvidia adds a steadier, AI-flavored counterweight, while SBI Holdings and Block round out the global, crypto-financial theme.
Name | Company Name | Weight % | Market Value | Market Cap | Yearly Gain | Overall Rating |
|---|---|---|---|---|---|---|
| IREN | 15.90% | $1.84M | $18.37B | 20.81% | 64 Neutral | |
| Hut 8 | 11.53% | $1.33M | $12.17B | 177.19% | ― | |
| Applied Digital Corporation | 8.47% | $978.86K | $8.20B | 37.30% | 54 Neutral | |
| SBI Holdings | 4.90% | $566.55K | ¥2.16T | -6.66% | 72 Outperform | |
| MARA Holdings | 4.62% | $533.97K | $5.11B | -27.61% | 64 Neutral | |
| Cleanspark | 4.51% | $521.18K | $3.72B | 6.24% | 73 Outperform | |
| Riot Platforms | 4.50% | $520.61K | $8.91B | 36.02% | 68 Neutral | |
| Nvidia | 4.37% | $505.80K | $5.36T | 25.81% | 76 Outperform | |
| Block | 4.35% | $503.25K | $45.83B | -0.97% | 72 Outperform | |
| Bit Digital | 4.04% | $467.39K | $623.90M | -44.55% | 64 Neutral |
MNRS Technical Analysis
Positive
―
Price Trends
34.69
Positive
39.03
Negative
35.58
Positive
Market Momentum
0.14
Negative
57.84
Neutral
51.99
Neutral
Evaluating momentum and price trends is crucial in ETF analysis to make informed investment decisions. For MNRS, the sentiment is Positive. The current price of undefined is equal to the 20-day moving average (MA) of 34.45, equal to the 50-day MA of 34.69, and equal to the 200-day MA of 35.58, indicating a bullish trend. The MACD of 0.14 indicates Negative momentum. The RSI at 57.84 is Neutral, neither overbought nor oversold. The STOCH value of 51.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MNRS.
MNRS Peer Comparison
Comparison Results
Performance Comparison
MNRS
Grayscale Bitcoin Miners ETF
37.63
-2.67
-6.63%
IBLC
iShares Blockchain and Tech ETF
―
―
―
HECO
SPDR Galaxy Hedged Digital Asset Ecosystem ETF
―
―
―
BCDF
Horizon Kinetics Blockchain Development ETF
―
―
―
DECO
SPDR Galaxy Digital Asset Ecosystem ETF
―
―
―
BLCK
Corgi Crypto Infrastructure ETF
―
―
―
Glossary
BuyAn ETF rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the ETF is likely to deliver higher returns compared to other ETFs in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldAn ETF rated as a "Hold" s expected to perform in line with the overall market or a specific benchmark. This rating indicates that the ETF is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellAn ETF rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the ETF may deliver lower returns compared to other ETFs in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
DisclaimerThis AI Analyst ETF Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in ETFs carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: ―
Table of Contents