The US Securities and Exchange Commission (SEC) has approved the Volt Crypto Industry Revolution and Tech ETF, and offers investors easy access to companies with significant exposure to Bitcoin.

The exchange-traded fund approved on Tuesday aims to track “Bitcoin Industrial Revolution Companies,” defined as companies that hold the majority of their net assets in BTC or obtain a fraction of their net worth, accordingly file the SEC. According to the prospectus, 80% of the fund shares will be allocated to these companies. The new ETF will appear as an Arca listing on the New York Stock Exchange under the ticker BTCR.

The US securities regulators have been debating whether to approve the first Bitcoin ETF for years. Last Friday, the SEC announced a 45-day delay in deciding on four Bitcoin ETFs, such as Bitcoin magazine reported.

Unlike other proposals for a physically backed Bitcoin ETF, the newly approved Volt Equity ETF doesn’t track Bitcoin prices or hold any assets. Instead, it seeks exposure to companies that generate a significant portion of its Bitcoin-related business.

There is much speculation that the SEC is well on its way to approving its first Bitcoin ETF, albeit with a slight twist.

With regulators continuing to consider the spot Bitcoin ETF, a Bitcoin futures ETF could be approved in the next few weeks, according to Bloomberg analyst Eric Balchunas.

The source: Twitter

Optimism about the potential for approval may have contributed to Bitcoin’s major bull run earlier this week. BTC rose to $ 55,000 on Wednesday as the asset’s total market capitalization returned to $ 1 trillion – a major milestone in four months.

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Annie

According to Cointelegraph

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