SEC approves revolutionary Bitcoin ETF

Volt Equity's exchange-traded fund, approved by the US Securities and Exchange Commission, is made up of stocks in companies that hold large amounts of cryptocurrency on their balance sheets. The US Securities and Exchange Commission …

Volt Equity's exchange-traded fund, approved by the US Securities and Exchange Commission, is made up of stocks in companies that hold large amounts of cryptocurrency on their balance sheets.

The US Securities and Exchange Commission (SEC) has approved an exchange-traded fund called the Volt Bitcoin Revolution ETF. The fund, run by San Francisco-based Volt Equity, will provide retail investors with access to stocks in companies that hold a significant portion of the cryptocurrency on their balance sheets.

In an initial filing in June, Volt said 25% of the ETF's assets would be held in MicroStrategy (the largest publicly traded bitcoin holder). In an interview with Decrypt , Votl founder Ted Park said the percentage will be lower if the fund is listed on the New York Stock Exchange in the coming weeks.

The ETF, which will trade under the ticker BTCR, will be made up of approximately 30 stocks, including Tesla, Square, Coinbase and PayPal. Volt also decided to include it on Twitter, which recently added the ability to send donations in bitcoins.

At the same time, the US Securities and Exchange Commission continues to transfer decisions on other ETFs to Bitcoin and make refusals. The regulator fears manipulation in the cryptocurrency market.

For example, in early September, the SEC postponed the decision on the application of the asset manager company VanEck to launch a Bitcoin ETF for 60 days, until November 14. This is the third and final postponement, now the regulator will have to either approve or reject the application.

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