The U.S. Securities and Exchange Commission (SEC) is approving a new exchange-traded fund (ETF) that offers investors indirect exposure to crypto assets.

The regulator has given the go-ahead for the Volt Crypto Industry Revolution and Tech ETF (BTCR) to trade on the New York Stock Exchange (NYSE).

ADVERTISEMENT


 

According to the new filing,

“The Fund defines companies with exposure to Bitcoin as ‘Bitcoin Industry Revolution Companies,’ which are domestic and foreign… companies that:

(i) hold a majority of their net assets in Bitcoin on their balance sheet as can be reasonably determined by the company’s annual filings from the past 12 months; and/or

(ii) derive a majority of their revenue or profits directly from mining, lending, transacting in Bitcoin, or manufacturing Bitcoin mining equipment as can be reasonably determined by the company’s annual filings from the past 12 months.”

While the Volt ETF approval is a noteworthy milestone for the crypto space, it is not a straightforward Bitcoin ETF. The SEC announced this week that it is postponing application deadlines for four BTC ETF products until later this year.

The regulator says it needs additional time to look into a proposed rule change that will allow the Nasdaq Stock Market to list and trade shares of the Global X, Kryptoin, Valkyrie, and WisdomTree Bitcoin ETFs.

San Francisco-based Volt Equity targets investment in disruptive technologies, including autonomous driving, financial technology (fintech), and cloud computing.

According to the company’s website,

“Volt aims to provide investment solutions that allow investors to take part in [what] we believe are some of the most innovative publicly traded companies.”

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

ADVERTISEMENT


 

Check Latest News Headlines

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/tunnelmotions

Source