SOL Technical Analysis: High Demand Confluence Area Teases Reversal

RUNE Technical Analysis: Crucial Support at $3.5 Under Bearish Attack

Ethereum Foundation Rebrands ‘ETH 2.0’ to ‘Consensus Layer’

Crypto Market Sentiment; More Dips Ahead?

South Korea’s Central Bank Completes First Phase of Its CBDC Pilot

The US SEC has reportedly approved a Bitcoin ETF from Volt Equity that will provide its clients the option to invest in companies with direct exposure to BTC, such as <a href="https://www.cryptoknowmics.com/news/microstrategy-purchases-243-million-in-bitcoin/">MicroStrategy.</a>
<h2>US SEC Approves Volt Equity ETF to Expand Bitcoin Investment Services</h2>
The US Securities and Exchange Commission has recently approved an exchange-traded fund called Volt Bitcoin Revolution ETF right after four months of its application and this ETF would track the performance of numerous companies with bitcoin exposure.

Back in early June, Volt Equity a California-based firm had <a href="https://www.sec.gov/Archives/edgar/data/1508033/000150803321000003/n1a0621.htm" target="_blank" rel="noopener" data-wpel-link="external">filed</a> its documents to launch a different type of exchange-traded fund with indirect exposure to BTC.

The documents of the filing application describe the organizations included in the ETF as “Bitcoin Revolution Companies” as they have allocated a significant amount of capital investment in the flagship cryptocurrency or are facilitating its development or mining. And the fund is likely to invest about 80% of its net assets in domestic as well as foreign Bitcoin Revolution Companies, either directly or through options.
<h2>The Exchange Trade Fund Will Invest in Both Domestic &amp; Foreign BRCs</h2>
According to the government <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0001508033/000150803321000024/r497c1021.htm">official website</a>, the SEC had approved this product earlier this October and it will go live on the New York Stock Exchange Arca under the ticker symbol BTCR. And this seems like the most positive and encouraging news coming from the Commission in terms of a BTC-related ETF.

While a number of companies who have applied continue to increase from <a href="https://www.cryptoknowmics.com/news/sec-should-first-approve-spot-bitcoin-etf-than-futures-etf-grayscale-ceo/">Grayscale</a> to VanEck and SkyBridge Capital. However, the SEC has either rejected or delayed all applications so far.

Until recently, it was visibly reluctant to approve such a product that directly tracks the performance of the primary digital asset.

MicroStrategy which is also one of the BRCs and NASDAQ-listed business intelligence giant headed by Michael Saylor currently owns more than $5 billion worth of BTC and it is expected to benefit from the approved ETF.

US SEC Approves Volt Equity ETF to Track the Performance of Bitcoin Investment Companies

Features

News

Industry

Market Analysis

Newsletter Sign up

Advertisement