The U.S. Securities and Exchange Commission (SEC) approves the “Volt Crypto Industry Revolution and Tech ETF” providing retail investors exposure to Bitcoin and other crypto holding companies.
The fund is managed by San Francisco-based Volt Equity. The fund provides retails investors with exposure to Bitcoin and other crypto assets by creating a portfolio of ‘Crypto Revolution Companies’. Companies like MicroStrategy will be part of the portfolio which are big advocates of Bitcoin and decentralized economy.
Volt Equity offers retail investors opportunity to diversify their investment in disruptive technologies via ETF. Its other ETFs include a Tesla options ETF for the robotaxi future (VCAR), a Cloud and Cybersecurity focused ETF VCLO, a Pop Culture Disruption ETF VPOP seeks to be exposed to media platform leaders across streaming, social and IoT; and VFIN, a Fintech Disruption ETF seeks to be exposed to the most disruptive fintech companies that are on the forefront of cashless payments.
Principal Investment Strategies
The Fund prospectus mentions that the ETF “seeks to achieve its investment objective by investing a majority of its net assets in U.S. and foreign companies with exposure to bitcoin and its supporting infrastructure”. The Advisor applies an option overlay strategy to the Fund’s equity investments.
In its initial application filed in June, Volt said 25% of the fund’s assets would be made up of stock in MicroStrategy, a cyber-security company that has been buying large amounts of Bitcoin.
The fund will trade under the ticker symbol BTCR, and will be listed on the New York Stock Exchange in the next few weeks.
The Volt Crypto Industry Revolution and Tech ETF fund will consist of shares in approximately 30 companies, including Tesla, Square, Coinbase, PayPal, and Bitcoin mining companies like Marathon. Volt has also decided to include Twitter in the portfolio. Twitter recently made Bitcoin tipping part of its operations.
Bitcoin ETF In The US
U.S. SEC approval of a Bitcoin and Crypto focused fund ETF can be seen as a progression towards a true Bitcoin ETF. However, we need to wait for now.
Read More: Canadian Securities Regulator Approves First North American Bitcoin ETF
Bitcoin ETFs are traded on stock exchanges and can be easily bought and sold similar to any other company stock. These instruments cut the technical barrier of investing in cryptocurrencies as anyone can invest in them through brokerages, without needing to worry about wallets and other stuff.
SEC Chairman Gary Gensler this week said that the U.S. won’t follow China’s lead in banning crypto asets. Gensler said Tuesday that the government’s focus is on ensuring that the industry adheres to investor and consumer protection rules, anti-money laundering regulations and tax laws.