ICrypto

Hotest Blockchain News in First Media Index

SEC Approves ETF Exposing Investors to ‘Bitcoin Industry Revolution Companies’

Like? Rate It!
Rated: 

The U.S. Securities and Exchange Commission (SEC) is approving a new exchange-traded fund (ETF) that offers investors indirect exposure to crypto assets.

The regulator has given the go-ahead for the Volt Crypto Industry Revolution and Tech ETF (BTCR) to trade on the New York Stock Exchange (NYSE).

 

According to the new filing,

“The Fund defines companies with exposure to Bitcoin as ‘Bitcoin Industry Revolution Companies,’ which are domestic and foreign… companies that:

(i) hold a majority of their net assets in Bitcoin on their balance sheet as can be reasonably determined by the company’s annual filings from the past 12 months; and/or

(ii) derive a majority of their revenue or profits directly from mining, lending, transacting in Bitcoin, or manufacturing Bitcoin mining equipment as can be reasonably determined by the company’s annual filings from the past 12 months.”

While the Volt ETF approval is a noteworthy milestone for the crypto space, it is not a straightforward Bitcoin ETF. The SEC announced this week that it is postponing application deadlines for four BTC ETF products until later this year.

The regulator says it needs additional time to look into a proposed rule change that will allow the Nasdaq Stock Market to list and trade shares of the Global X, Kryptoin, Valkyrie, and WisdomTree Bitcoin ETFs.

San Francisco-based Volt Equity targets investment in disruptive technologies, including autonomous driving, financial technology (fintech), and cloud computing.

According to the company’s website,

“Volt aims to provide investment solutions that allow investors to take part in [what] we believe are some of the most innovative publicly traded companies.”

Share
 10/9/2021

Digital & Hitech

Hotest Cryptocurrency News

End of content

No more pages to load

Next page

X