European Central Bank (ECB) President Christine Lagarde does not expect any EU country to adopt a Bitcoin reserve, reflecting strong skepticism about cryptocurrency’s role in central bank reserves.

Her remarks came in response to Czech National Bank (CNB) Governor Aleš Michl, who recently gained approval from the CNB board to explore alternative assets for the country’s reserves. 

Lagarde’s Skepticism Might Not Align with Some EU Nations

Michl has openly discussed the possibility of allocating up to 5% of the Czech Republic’s reserves to Bitcoin. However, the proposal has drawn mixed reactions from officials.

Lagarde insisted that Bitcoin does not meet the criteria required for inclusion in central bank reserves. She reinforced the ECB’s long-standing stance against cryptocurrency adoption within the EU’s monetary system.

“I love how Lagarde wants a liquid, secure & safe reserve, and then laughs at Bitcoin. She either didn’t do her homework, or as an agenda. Probably both,” wrote European crypto influencer Robin Seyr. 

While the Czech Republic is part of the EU, it does not use the euro. So, its central bank has more flexibility in financial decisions. 

The country has also shown strong pro-Bitcoin sentiment in recent months. In December, the country introduced new policies to ease crypto taxation rules. 

Meanwhile, the debate over Bitcoin reserves is not limited to the Czech Republic. Last month, former German Finance Minister Christian Lindner suggested exploring the idea. 

Also, Switzerland has initiated a push to include Bitcoin alongside gold in its national reserves. Swiss lawmakers must gather 100,000 signatures by mid-2025 for a referendum to advance the proposal.

“Let the ECB roll out their CBDC while EU nations hedge against EUR control with Bitcoin reserves in their own treasuries—breaking free from the ECB’s Fed-first, treasonous policies,” wrote Simon Dixon.

In the US, momentum for Bitcoin reserves is growing at the state level. Over 15 states have introduced bills to allocate funds for Bitcoin purchases. 

Texas has named Bitcoin reserves a top priority for 2025. Illinois and Indiana are also considering similar legislation. 

On a national level, former President Donald Trump signed an executive order to study the creation of a digital asset stockpile. Bitcoin’s potential as a reserve asset remains a topic of global discussion. 

Central banks and policymakers are weighing the risks and benefits of integrating digital assets into their financial systems.

Grayscale has introduced the Grayscale Bitcoin Miners ETF (MNRS), providing investors with exposure to companies operating in the Bitcoin mining industry. 

This ETF focuses on firms included in the Indxx Bitcoin Miners Index, which tracks businesses that generate most of their revenue from Bitcoin mining or related services, including hardware, software, and infrastructure.

Grayscale Continuous to Innovate with Crypto ETFs

The latest ETF offers an alternative for those looking to invest in the Bitcoin mining sector without directly holding digital assets. It caters to investors interested in companies linked to Bitcoin’s price movements. 

The fund will appeal to investors who may not want or have the ability to invest in cryptocurrencies directly.

However, the fund does not invest in Bitcoin, other digital currencies, derivatives, or initial coin offerings. It may have indirect exposure to digital assets through investments in companies that use or hold them as part of their business operations.

Overall, Grayscale remains a dominant player in developing products that are taking crypto to the retail investment scene. 

“Bitcoin Miners, the backbone of the network, are well-positioned for significant growth as Bitcoin adoption and usage increases, making MNRS an appealing option for a diverse range of investors,” David LaValle, Global Head of ETFs at Grayscale told BeInCrypto.

Currently, its Bitcoin Trust (GBTC) manages more than $20 billion in assets. Despite being the pioneer of Bitcoin ETF, GBTC currently ranks third behind BlackRock’s IBIT and Fidelity’s FBTC. 

The firm has expanded its ETF offerings in recent months, broadening access to crypto-related investments.

In addition to launching MNRS, Grayscale has applied for a spot Litecoin ETF, which the SEC could approve ahead of other altcoin ETFs. The company also submitted an application for a Solana ETF months ago.

Grayscale recently disclosed a list of 40 digital assets, including AI and meme tokens, that may be integrated into its investment products. 

In December, it opened its Horizen Trust (HZEN) to accredited investors, a product that had been maintained for years but was not previously available over-the-counter (OTC). 

The firm has also introduced new trusts for Stellar (XLM), Lido DAO, and Optimism, further expanding its crypto-focused offerings.