The U.S government continues to be one of the most talked-about countries in the world in terms of cryptocurrency. This time, the U.S Securities and Exchange Commission (SEC) has granted a green light to a new exchange-traded fund.
In detail, the Volt Crypto Industry Revolution and Tech ETF are now allowed to provide their services to all interested investors. Indeed, this event brings hope to other ETF firms that submit their application in the SEC.
Based on a prospectus filed on SEC, the Volt Crypto Industry Revolution and Tech ETF is intended to track down the activities and performance of companies related to Bitcoin. To be specific, these are the companies that hold the majority of their assets in Bitcoin. The MicroStrategy is one example out of the many other companies that hold most of their assets in Bitcoin.
In terms of its fund, the net assets of the ETF firm will be invested in different types. To be specific, 80% of the ETF net asset will be invested in crypto stocks while the other will go to traditional stocks. Meanwhile, the ETF firm will also be listed in the New York Stock Exchange under the ticker BTCR.
On the other hand, as the SEC continues to develop its crypto regulation, Bitcoin remains bullish. As a result, BTC remains one of the most favorite cryptos by investors such as MicroStrategy. At the time of writing, Bitcoin trades at a bullish price above $55k.
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Source: Cryptocurrency - investing.com
