SEC Approves Volt Bitcoin Investment ETF

bitcoin

Volt’s bitcoin ETF that invests in companies holding and deriving profits from BTC has been approved by the SEC.

The ETF does not directly invest in the cryptocurrency, but indirectly provides exposure to the market.

The United States Securities and Exchange Commission (SEC) has approved a Volt ETF — Volt Crypto Industry Revolution and Tech ETF (BTCR) — that invests in tech companies with exposure to bitcoin and supporting infrastructure.

This marks a huge step forward for the crypto market, which has so far not received any approvals for ETFs with direct exposure to bitcoin.

The fund will invest in both U.S. and foreign companies in the space.

The prospectus defines such companies as Bitcoin Industry Revolution Companies.

To meet the requirements for investment, these companies must hold a majority of their net assets in bitcoin over the past 12 months.

Additionally, they can also be those that derive a majority of their revenue or profits from mining, lending, transacting in bitcoin, or manufacturing bitcoin mining equipment, again as determined from their filings in the past 12 months.

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