US SEC finally approves a crypto ETF. But it will invest in crypto companies

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The United States Securities and Exchange Commission (SEC) has finally approved a cryptocurrency ETF, but it is not the one that the crypto community awaits.

US SEC approves a crypto share ETF

The United States Securities and Exchange Commission (SEC) has approved a stock market -traded cryptocurrency fund (ETF). The Volt Crypto Industry Revolution and Tech ETF is supposed to pursue the performance of some of the leading listed cryptocurrency companies.

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The document stated that 80 % of the fund's assets would be invested in cryptocurrency shares, while the remaining 20 % would be invested in the traditional stock market. The fund is traded under the ticker BTCR and is intended to enable investors to indirectly engagement in cryptocurrencies through these companies.

The admission of the crypto stock ETF is made almost a week after the US regulatory authority has postponed its decisions for four Bitcoin ETF applications. The SEC should decide on the proposals this month, but postponed the dates to November and December.

The US SEC has not approved an ETF application for cryptocurrencies that aim to pursue Bitcoin and others' performance directly. However, the US Sec said it was open to the approval of crypto futures ETFs because they are not striving for direct engagement in the cryptocurrencies.

BTC/USD chart. Source fxempire

Bitcoin could soon reach the $ 60,000 mark

The cryptocurrency market has developed well this month. Bitcoin exceeded most of the other leading cryptocurrencies on the market. BTC has currently increased by more than 3% in the last 24 hours, while most old coins are traded in the minus

Bitcoin is currently heading for the $ 57,000 mark after his youngest rally. If you maintain this current dynamic, you could reach the 60,000 USD before the end of the week.