SEC approves Volt Equity ETF providing exposure to Bitcoin-centric companies

News

The United States Securities and Exchange Commission, or SEC, has approved the Volt Crypto Industry Revolution and Tech ETF, providing investors with easy access to companies with significant exposure to Bitcoin (BTC).

The ETF, which was approved on Oct. 5, is intended to track so-called “Bitcoin Industry Revolution Companies,” which are defined as entities that hold a majority of their net assets in BTC or derive a majority of their earnings from Bitcoin mining, lending or transacting, according to an SEC filing. The new ETF will appear as a New York Stock Exchange Arca listing under the ticker symbol BTCR.

U.S. securities regulators have been deliberating for years on whether to approve their first Bitcoin ETF. On Oct. 1, the SEC announced it would delay its decision on four Bitcoin ETFs by 45 days, pushing back the timelines on the Global X Bitcoin Trust, Valkyrie XBTO Bitcoin Futures Fund, WisdomTree Bitcoin Trust and Kryptoin Bitcoin ETF to Nov. 21, Dec. 8, Dec. 11 and Dec. 24, respectively.

Unlike other Bitcoin ETF proposals, the newly approved Volt Equity fund doesn’t track the price of Bitcoin or hold the asset in custody. Rather, it seeks exposure to companies that generate a significant portion of their business from Bitcoin-related activities.

This article is still in development.

Products You May Like

Articles You May Like

US infrastructure law could brace up digital assets — but first some fixes
It’s time for the philanthropic sector to embrace digital currencies
2021 ends with a question: Are NFTs here to stay?
Coinbase adds ‘ETH2’ despite tomorrow’s Ethereum upgrade postponing difficulty bomb
Delaying the Ice Age — Ethereum Network Participants Prep for Upcoming Arrow Glacier Upgrade

Leave a Reply

Your email address will not be published. Required fields are marked *