MNRS - ETF AI Analysis

Top Page

Grayscale Bitcoin Miners ETF (MNRS)

Rating:52Neutral

Price Target:―

The Grayscale Bitcoin Miners ETF (MNRS) has a moderate overall rating, reflecting a mix of strengths and challenges among its holdings. Strong contributors like IREN, which benefits from strategic growth initiatives and a major AI cloud contract, and CLSK, with robust financial performance and strategic growth in AI and Bitcoin mining, positively impact the fund's rating. However, weaker holdings such as CORZ, which struggles with high debt and financial instability, and WULF, facing significant profitability issues, weigh down the overall score. A key risk factor for this ETF is its concentration in the volatile cryptocurrency mining sector, which can amplify both potential gains and losses.

Positive Factors

Strong Year-to-Date Performance

The ETF has delivered impressive year-to-date returns, indicating strong momentum in the underlying holdings.

Focused Sector Exposure

The ETF is heavily weighted in financial and technology sectors, which are key drivers of growth in the cryptocurrency mining industry.

Low Expense Ratio

The ETF charges a competitive expense ratio, making it cost-effective compared to other niche funds.

Negative Factors

High Geographic Concentration

The ETF is overwhelmingly focused on U.S. companies, limiting diversification across global markets.

Over-Concentration in Top Holdings

A significant portion of the portfolio is concentrated in a few stocks, increasing vulnerability to individual company performance.

Mixed Performance Among Holdings

While some holdings have performed strongly, others have lagged, potentially dragging down overall returns.

MNRS vs. SPDR S&P 500 ETF (SPY)

AUM10.73M

RegionGlobal

Expense Ratio0.59%

Beta2.17

IssuerGrayscale

Inception DateJan 30, 2025

Dividend YieldN/A

Asset ClassEquity

Index TrackedIndxx Bitcoin Miners Index - Benchmark TR Net

Share Statistics

EPS (TTM)N/A

Shares OutstandingN/A

10 Day Avg. Volume9,395

30 Day Avg. Volume15,917

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

62.22

Price 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) is an investment fund that focuses on companies involved in bitcoin mining and related services, offering exposure to the growing blockchain industry. It tracks the Indxx Bitcoin Miners Index, which includes global firms like MARA Holdings and Bitfarms, both of which are key players in the bitcoin mining space. Investors might consider MNRS for its potential growth opportunities in the rapidly evolving digital currency and blockchain sector. However, it’s important to note that this ETF is heavily tied to the performance of bitcoin and blockchain technology, which can be volatile and subject to market fluctuations.

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

The Grayscale Bitcoin Miners ETF (MNRS) is heavily concentrated in the bitcoin mining sector, with a global mix of companies driving its performance. IREN leads the pack with steady long-term growth, though short-term profitability challenges have tempered enthusiasm. Cipher Mining and Applied Digital Corporation are rising stars, benefiting from strategic partnerships and bullish momentum, while BitMine Immersion Technologies has struggled recently, dragging on the fund’s returns. With a strong tilt toward financial and technology sectors, MNRS offers a focused play on blockchain innovation but remains vulnerable to the ups and downs of this niche industry.

Name	Company Name	Weight %	Market Value	Market Cap	Yearly Gain	Overall Rating
IREN	IREN	18.39%	$2.02M	$13.77B	256.22%	64 Neutral
BMNR	BitMine Immersion Technologies	9.43%	$1.04M	$13.24B	256.43%	―
HUT	Hut 8	6.91%	$758.72K	C$7.50B	104.93%	56 Neutral
MARA	MARA Holdings	6.85%	$752.14K	$3.83B	-51.07%	64 Neutral
CIFR	Cipher Mining	6.08%	$667.62K	$6.46B	189.27%	56 Neutral
APLD	Applied Digital Corporation	5.89%	$647.27K	$7.76B	197.38%	54 Neutral
WULF	TeraWulf Inc	5.64%	$618.87K	$5.22B	99.36%	50 Neutral
CORZ	Core Scientific Inc	4.78%	$524.40K	$4.90B	12.38%	46 Neutral
CLSK	Cleanspark	4.57%	$502.04K	$3.09B	7.97%	73 Outperform
BITF	Bitfarms	4.55%	$499.65K	$1.53B	56.80%	46 Neutral

MNRS Technical Analysis

Technical Analysis Sentiment

Negative

Last Price―

Price Trends

50DMA

40.00

Negative

100DMA

37.28

Negative

200DMA

29.41

Positive

Market Momentum

MACD

-1.92

Negative

RSI

43.44

Neutral

STOCH

43.59

Neutral

Evaluating momentum and price trends is crucial in ETF analysis to make informed investment decisions. For MNRS, the sentiment is Negative. The current price of undefined is equal to the 20-day moving average (MA) of 34.39, equal to the 50-day MA of 40.00, and equal to the 200-day MA of 29.41, indicating a neutral trend. The MACD of -1.92 indicates Negative momentum. The RSI at 43.44 is Neutral, neither overbought nor oversold. The STOCH value of 43.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MNRS.

MNRS Peer Comparison

Comparison Results

Name	Price	Price Target	AUM	Expense Ratio	Overall Rating
MNRS	―	―	$10.73M	0.59%	―
IBLC	―	―	$86.86M	0.47%	―
HECO	―	―	$67.62M	0.90%	―
BLCN	―	―	$38.00M	0.68%	―
BCDF	―	―	$19.14M	0.85%	―
DECO	―	―	$13.88M	0.65%	―

Performance Comparison

MNRS

Grayscale Bitcoin Miners ETF

32.55

6.13

23.20%

IBLC

iShares Blockchain and Tech ETF

―

HECO

SPDR Galaxy Hedged Digital Asset Ecosystem ETF

―

BLCN

Siren ETF Trust Siren Nasdaq NexGen Economy ETF

―

BCDF

Horizon Kinetics Blockchain Development ETF

―

DECO

SPDR Galaxy Digital Asset Ecosystem 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.

Disclaimer

This 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