Home News SEC approves ETF from Volt Equity on shares of Bitcoin-centric companies

SEC approves ETF from Volt Equity on shares of Bitcoin-centric companies


The U.S. Securities and Exchange Commission (SEC) has approved Volt Equity’s application to launch an exchange-traded fund (ETF) for a basket of shares of “Bitcoin Industry Revolution Companies”.

Thus, the instrument will be listed on the New York Stock Exchange (NYSE) Arca stock exchange. Under the ticker BTCR in the next few weeks. Moreover, 80% of the assets under management (AUM) will form shares of organizations that hold BTC. As a reserve asset or receive most of their income from mining, lending or making transactions involving Bitcoin.

In addition, in an interview with Decrypt, Volt Equity Chief Executive Officer and founder Ted Park said that the ETF will include about 30 companies, including Tesla, Twitter, Square, Coinbase and PayPal.

Industry-oriented blockchain ETFs

Volt Crypto Industry Revolution and Tech ETF does not involve the physical acquisition of the first cryptocurrency. Therefore, the total annual operating expenses of the fund will amount to 0.85% of the AUM.

Recall that the investment company Invesco has launched two industry-oriented blockchain ETFs.

Invesco’s partners were Galaxy Digital cryptocurrency trading bank and Alerian data provider. Which in August 2021 presented eight blockchain and digital asset-oriented indexes.

Approval of the Bitcoin ETF

Previously, Bloomberg experts predicted the Commission’s approval of the Bitcoin ETF by the end of October. According to Bloomberg’s Eric Balchunas, while the SEC “kicks the can” on regular Bitcoin ETFs, the Bitcoin futures counterpart is poised for approval.

This month, a Bitcoin (BTC) exchange-traded fund (ETF) has a 75% probability of acquiring authorization. Eric Balchunas, a senior ETF analyst for Bloomberg, said this weekend that US Bitcoin futures ETFs were “likely on pace” for regulatory approval.

The different petitions will now be subject to revision in November, rather than receiving approval or refusal this month. Futures-based ETFs, on the other hand, are expectable to pass test in the coming weeks, according to Balchunas.

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