Grayscale Dumps Bitcoin Miners ETF for AI-Compute Fund

Grayscale Investments has rebranded its Bitcoin Miners ETF (MNRS) into the Grayscale AI Compute ETF (GCPU), marking a shift towards high-performance computing. According to the firm, this move is driven by the growing demand for compute capacity in the artificial intelligence (AI) buildout.

Grayscale's new fund tracks the Indxx High Performance Computing Index, which focuses on companies providing data centers, power supply, and compute capacity for AI models. In contrast, the previous index tied to Bitcoin Miners tracked firms that solve blocks for Bitcoin.

The GCPU ETF covers a mix of firms focusing on different parts of the AI buildout, with 50% tracking companies built around GPU cloud and AI-hosting capacity from the start, and the other half comprising operators who have announced publicly or are pivoting into AI workloads. The index rebalances every quarter.

Grayscale's Head of Index, Steve Vanourny, believes that compute is a scarce asset in the AI boom, stating: 'GCPU is a direct extension of that thesis, giving investors access to the companies closing the gap between AI's demand for compute and the physical infrastructure needed to meet it.'