A new bitcoin (BTC)-related exchange-traded fund (ETF) has been approved by the US Securities and Exchange Commission (SEC).
The new ETF, brought to the market by ETF issuer Volt Equity, aims to track companies that either have a majority of their assets in bitcoin, or derive a majority of their revenue from related activities, including Bitcoin mining, mining hardware manufacturing, or lending services, CEO & founder of Volt Equity, Tad Park, told Insider on Thursday.
The fund, named the Volt Crypto Industry Revolution and Tech ETF, was approved by the SEC on October 5, and is aiming for a listing on the New York Stock Exchange within the next three weeks.
Among the companies that Park has already eyed for a place in the ETF’s portfolio were prominent Bitcoin bull Michael Saylor’s firm MicroStrategy, as well as mining companies Marathon Digital Holdings and Bitfarms. Further, the ETF may also hold positions in other ETFs, as well as in options contracts, Insider reported.
The ETF, which the issuer claims is the only purely BTC-focused ETF to be approved so far, could become an attractive alternative for financial institutions and traditional investors who either can’t or don’t want to hold the digital asset directly. This is particularly true given that an ETF that is backed directly by bitcoin, either in the form of futures contracts or “physical” bitcoins, has yet to be approved in the US.
In the Ripple SEC battle
Although crypto regulation is in Latin America is on the cards, Chainalysis discovered that India’s cryptocurrency market is more mature than those of Vietnam or Pakistan. One of the most prominent engineers from Salvador claimed that Bitcoin mining using volcanic power could cause economic disaster for the country. President Bukele also blasted those who opposed the currency’s rise. The US SEC Chairman dismissed the possibility of crypto regulation. Chainalysis found that India’s crypto market is more mature than that of Vietnam and Pakistan.
In the Ripple SEC battle, at least six holders of XRP will be represented in court while Circle was served with a subpoena. Unstoppable Domains, 30 of the top crypto wallets created the Wallet Alliance. Sino-Global will join a Bitcoin mining machine joint-venture to work on the design of mining machine ‘Thor.’. The Cryptoverse with Busta Rhymes highlighted the problems with centralization. North Korea has been conducting spear-phishing operations on the crypto industry. While Compound Finance was facing more problems when USD 65m of COMP was dripped in the contract plagued with a bug, Sino-Global will enter a Bitcoin mining machine joint-venture with Highsharp to work on the a centralization.project funds and USD 2.9m”>Busta Rhymes centralized-system.
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