The U.S. Securities and Exchange Commission (SEC) is approving a brand new exchange-traded fund (ETF) that provides buyers oblique publicity to crypto property.
The regulator has given the go-ahead for the Volt Crypto Industry Revolution and Tech ETF (BTCR) to commerce on the New York Stock Exchange (NYSE).
According to the brand new filing,
“The Fund defines corporations with publicity to Bitcoin as ‘Bitcoin Industry Revolution Companies,’ that are home and overseas… corporations that:
(i) maintain a majority of their internet property in Bitcoin on their steadiness sheet as could be fairly decided by the corporate’s annual filings from the previous 12 months; and/or
(ii) derive a majority of their income or earnings instantly from mining, lending, transacting in Bitcoin, or manufacturing Bitcoin mining tools as could be fairly decided by the corporate’s annual filings from the previous 12 months.”
While the Volt ETF approval is a noteworthy milestone for the crypto area, it isn’t a simple Bitcoin ETF. The SEC introduced this week that it’s postponing software deadlines for 4 BTC ETF merchandise till later this 12 months.
The regulator says it wants extra time to look right into a proposed rule change that may permit the Nasdaq Stock Market to checklist and commerce shares of the Global X, Kryptoin, Valkyrie, and WisdomTree Bitcoin ETFs.
San Francisco-based Volt Equity targets funding in disruptive applied sciences, together with autonomous driving, monetary know-how (fintech), and cloud computing.
According to the corporate’s website,
“Volt goals to present funding options that permit buyers to participate in [what] we consider are a number of the most modern publicly traded corporations.”
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