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MNRS - ETF AI Analysis
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Grayscale Bitcoin Miners ETF (MNRS)
Rating:57Neutral
Price Target:―
Positive Factors
Strong Recent Year-to-Date Performance
The ETF has delivered strong gains so far this year, helped by solid performance from many of its largest bitcoin mining holdings.
Top Holdings Showing Momentum
Several of the biggest positions, such as IREN and Applied Digital, have posted strong year-to-date returns, supporting the fund’s overall results.
Focused but Some Geographic Diversification
While most assets are in U.S. companies, the fund also includes miners from Canada, Germany, and Hong Kong, adding a bit of international diversification.
Negative Factors
High Concentration in a Few Stocks
A small number of holdings make up a large share of the portfolio, which increases the impact if any of those companies run into trouble.
Very Narrow Industry and Sector Focus
The ETF is heavily tilted toward bitcoin miners in the financial and technology sectors, making it highly sensitive to swings in the crypto and related markets.
Recent Short-Term Volatility
Despite strong year-to-date gains, the fund has seen weak performance over the last three months, highlighting its potential for sharp ups and downs.
MNRS vs. SPDR S&P 500 ETF (SPY)
AUM10.10M
RegionGlobal
Expense Ratio0.59%
Beta2.12
IssuerGrayscale
Inception DateJan 30, 2025
Dividend Yield0.52%
Asset ClassEquity
Index TrackedIndxx Bitcoin Miners Index - Benchmark TR Net
Share Statistics
EPS (TTM)N/A
Shares OutstandingN/A
10 Day Avg. Volume12,250
30 Day Avg. Volume10,833
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
59.67Price 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 a fund that 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. stocks and gives you a way to invest in the bitcoin mining theme without buying bitcoin directly. Well-known names in the fund include Riot Platforms and Marathon (MARA) Holdings. Someone might invest for potential high growth if bitcoin and blockchain technology continue to expand. However, this ETF is very concentrated in bitcoin miners, so its price can swing sharply with bitcoin’s ups and downs.
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 its biggest bets riding on a handful of U.S.-listed tech and infrastructure names. IREN and Applied Digital are doing the heavy lifting lately, with rising share prices reflecting optimism around AI-driven data centers and mining capacity growth. Cipher Mining and Riot are more mixed, helping when sentiment is strong but wobbling when crypto cools. On the weaker side, Bitdeer and HIVE have been lagging, their financial strains and bearish trends acting like sandbags on an otherwise high-octane, globally focused mining portfolio.
Name | Company Name | Weight % | Market Value | Market Cap | Yearly Gain | Overall Rating |
|---|---|---|---|---|---|---|
| Applied Digital Corporation | 16.64% | $1.68M | $9.86B | 287.27% | 54 Neutral | |
| IREN | 14.92% | $1.51M | $14.01B | 224.52% | 64 Neutral | |
| Cipher Mining | 10.37% | $1.05M | $6.49B | 170.96% | 56 Neutral | |
| TeraWulf Inc | 5.69% | $574.94K | $6.81B | 233.88% | 50 Neutral | |
| Core Scientific Inc | 5.02% | $506.82K | $5.53B | 42.60% | 46 Neutral | |
| Riot Platforms | 4.61% | $466.23K | $5.66B | 24.04% | 68 Neutral | |
| Hut 8 | 4.32% | $436.00K | C$7.91B | 152.32% | 56 Neutral | |
| Bitdeer Technologies | 4.07% | $411.52K | $2.34B | -38.91% | 38 Underperform | |
| Cleanspark | 3.59% | $363.04K | $2.52B | -6.19% | 73 Outperform | |
| Bit Digital | 3.58% | $361.61K | $569.67M | -43.59% | 64 Neutral |
MNRS Technical Analysis
Negative
―
Price Trends
34.16
Negative
38.59
Negative
32.35
Negative
Market Momentum
-1.17
Positive
43.86
Neutral
48.96
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 34.40, equal to the 50-day MA of 34.16, and equal to the 200-day MA of 32.35, indicating a bearish trend. The MACD of -1.17 indicates Positive momentum. The RSI at 43.86 is Neutral, neither overbought nor oversold. The STOCH value of 48.96 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
Performance Comparison
MNRS
Grayscale Bitcoin Miners ETF
31.22
4.91
18.66%
IBLC
iShares Blockchain and Tech ETF
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HECO
SPDR Galaxy Hedged Digital Asset Ecosystem ETF
―
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BCDF
Horizon Kinetics Blockchain Development ETF
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―
―
DECO
SPDR Galaxy Digital Asset Ecosystem ETF
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―
―
BLKC
Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF
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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: ―
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