SEC approves BTC ETF for BTC revolution companies like Twitter, Tesla
The SEC’s approval of a Volt Equity BTC ETF is aimed at giving investors greater exposure to a number of companies including MicroStrategy, Twitter, and Tesla, all of which have large amounts of Bitcoin on their balance sheets.
SEC approves BTC ETF with portfolio spanning 30 companies including PayPal and Tesla. The approval comes as the crypto space requires strong approval from the SEC. The community has long waited for the approval of a Bitcoin ETF by the Securities and Exchange Commission, now the agency has taken a step in the right direction with the approval of a fund called “Volt Bitcoin Revolution ETFs”.
Managed by San Francisco-based Volt Equity, the fund will enable more retail investors to get exposure to BTC by building a portfolio of BTC revolution companies with massive crypto assets on their balance sheets. In his first motion, filed in June, Volt said 25% of the fund’s assets will be made up of shares in MicroStrategy, a cybersecurity company that buys large amounts of BTC, but Volt founder Tad Park said that ratio could be lower if the Der Fund trading under the ticker symbol BTCR will be listed on the New York Stock Exchange in the next few weeks.
Park added that the fund will include stocks in 30 companies like Square, Tesla, PayPal, and Coinbase, but also said that Volt decided to include Twitter to include BTC in its operations, as well as mining companies holding BTC miners like Marathon the currency . in their company coffers. Park said the Bitcoin Revolution Fund will be less volatile than pure crypto because the collapse in BTC prices isn’t having too much of an impact on the stocks of companies like PayPal or Tesla. As with other ETFs, the Volt Fund’s fees are modest and include 0.85% annual management fees. While the SEC approves the ETF, the Volt fund is still a long way from approving a true Bitcoin ETF, noted Park:
“A year ago, an ETF like this would not have been possible. We hope that this is a crack in the dam. “
Meanwhile, other companies like Grayscale, which have been applying for Bitcoin ETFs for years, have not yet been able to get approval. After SEC chairman Gary Gensler found the agency was ready to approve it, Grayscale CEO Michael Sonnenshein said the move was like “choosing one child over another.”
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SEC approves BTC ETF for BTC revolution companies like Twitter, Tesla
The SEC’s approval of a Volt Equity BTC ETF is aimed at giving investors greater exposure to a number of companies including MicroStrategy, Twitter, and Tesla, all of which have large amounts of Bitcoin on their balance sheets.
SEC approves BTC ETF with portfolio spanning 30 companies including PayPal and Tesla. The approval comes as the crypto space requires strong approval from the SEC. The community has long waited for the approval of a Bitcoin ETF by the Securities and Exchange Commission, now the agency has taken a step in the right direction with the approval of a fund called “Volt Bitcoin Revolution ETFs”.
Managed by San Francisco-based Volt Equity, the fund will enable more retail investors to get exposure to BTC by building a portfolio of BTC revolution companies with massive crypto assets on their balance sheets. In his first motion, filed in June, Volt said 25% of the fund’s assets will be made up of shares in MicroStrategy, a cybersecurity company that buys large amounts of BTC, but Volt founder Tad Park said that ratio could be lower if the Der Fund trading under the ticker symbol BTCR will be listed on the New York Stock Exchange in the next few weeks.
Park added that the fund will include stocks in 30 companies like Square, Tesla, PayPal, and Coinbase, but also said that Volt decided to include Twitter to include BTC in its operations, as well as mining companies holding BTC miners like Marathon the currency . in their company coffers. Park said the Bitcoin Revolution Fund will be less volatile than pure crypto because the collapse in BTC prices isn’t having too much of an impact on the stocks of companies like PayPal or Tesla. As with other ETFs, the Volt Fund’s fees are modest and include 0.85% annual management fees. While the SEC approves the ETF, the Volt fund is still a long way from approving a true Bitcoin ETF, noted Park:
“A year ago, an ETF like this would not have been possible. We hope that this is a crack in the dam. “
Meanwhile, other companies like Grayscale, which have been applying for Bitcoin ETFs for years, have not yet been able to get approval. After SEC chairman Gary Gensler found the agency was ready to approve it, Grayscale CEO Michael Sonnenshein said the move was like “choosing one child over another.”
DC Forecasts is a leader in many crypto news categories, always striving for the highest journalistic standards and adhering to strict editorial guidelines. If you would like to share your expertise or contribute to our news page, please contact us at [email protected]
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
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