SEC approves Volt Equity Bitcoin-focused equities ETF

The U.S. Securities and Exchange Commission approved application by Volt Equity to launch an exchange-traded fund (ETF) tracking a basket of stocks of companies ‘revolutionising the Bitcoin industry’.

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The instrument is expected to list on the NYSE Arca exchange under the ticker BTCR in the coming weeks.

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80% of AUM will be comprised of shares of organisations that hold BTC as a reserve asset or derive the bulk of their revenues from mining, lending, or transacting Bitcoin.

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In an interview with Decrypt, Volt Equity founder Ted Park said that the ETF would include around 30 companies, including Tesla, Twitter, Square, Coinbase and PayPal.

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The Volt Crypto Industry Revolution and Tech ETF does not involve the physical acquisition of Bitcoin.

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Total annual operating expenses of the fund will be 0.85% of AUM.

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Invesco launched two blockchain-focused ETFs.

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In August, Bloomberg analysts predicted the Commission’s approval of a Bitcoin ETF by the end of October.

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