US SEC approves an ETF that pursues the performance of Bitcoin investment company

US SEC approves an ETF that pursues the performance of Bitcoin investment company

Just four months after the application, the Volt Bitcoin Revolution ETF from Volt Equity received the green light from the US stock exchange supervisory authority SEC. It offers investors the opportunity to invest in companies with direct engagement in BTC such as Microstrategy.

At the beginning of June this year, the Californian company Volt Equity stored with the commission documents to put on another kind of stock market-traded funds with indirect engagement in BTC. In the submission, the organizations contained in the ETF were referred to as "Bitcoin revolution companies" because they have assigned significant shares in cryptocurrency or are involved in it through development or mining. Under "normal circumstances", the fund invests at least 80 % of its net assets directly or through options in domestic and foreign Bitcoin revolution companies. One of these BRCs is Microstrategy-the nasdaq-listed business intelligence giant led by Michael Saylor, who is currently has BTC worth more than 5 billion US dollar. The SEC gave the product the green light at the beginning of this month, so a most recent submission . It will go live on the New York Stock Exchange Arca under the ticker symbol BTCR. This consent could be regarded as the most encouraging news of the SEC in relation to a BTC-related ETF. The Commission hesitated to give the green light even one such product that directly pursues the performance of the primary digital wealth value. At the same time, the number of companies that have applied increases from Grayscale to Vaneck and Skybridge Capital. However, the SEC either rejected or Lädt so far. Canada and Brazil, on the other hand, already Bitcoin ETFs, most of which enjoy impressive first months in terms of AUM. .