The Grayscale Bitcoin Miners ETF (NYSEARCA:MNRS) experienced a notable reduction in short interest during January. As of January 30th, the total short interest fell to 6,295 shares, representing a decline of 32.1% compared to the 9,268 shares reported on January 15th.
With an average trading volume of 11,150 shares, the days-to-cover ratio currently stands at 0.6 days. Presently, 1.9% of the ETF”s shares are sold short, indicating a potential shift in market sentiment.
In recent months, various hedge funds have made adjustments to their positions in the Grayscale Bitcoin Miners ETF. For instance, Jane Street Group LLC acquired a new stake valued at approximately $314,000 during the first quarter. Additionally, Formidable Asset Management LLC increased its holdings by 31.3% in the fourth quarter, bringing its total to 10,476 shares worth about $315,000 following a purchase of 2,500 additional shares.
Furthermore, Global Retirement Partners LLC has bolstered its stake by 33.9% in the same quarter, now holding 3,208 shares valued at $96,000 after acquiring 812 shares. Lastly, Group One Trading LLC also entered the ETF during the third quarter with a stake valued around $38,000.
On the trading front, the MNRS saw an uptick of 2.3%, reaching $31.22 during trading hours on Friday. The trading volume for the day was 4,608 shares, which is below the average of 10,214. The ETF has a market capitalization of $10.30 million, a price-to-earnings ratio of 9.91, and a beta of 6.51. Over the past year, MNRS has experienced a low of $14.38 and a high of $56.46.
The Grayscale Bitcoin Miners ETF, which launched on January 30, 2025, is designed to track the performance of the Indxx Bitcoin Miners Index. This index includes global companies involved in bitcoin mining and related services, with constituents selected and weighted based on market capitalization and revenue.
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