SEC approves Volt Equity ETF providing exposure to Bitcoin-centric companies
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 exchange-traded fund, which was approved on Tuesday, 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. Eighty percent of the fund's holdings will be allocated to such companies, the prospectus states. 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 whether to approve their first Bitcoin ETF. Last Friday, 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.
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- CoinRado.com