Skip to main content

The SEC approves an ETF that relies on Bitcoin



The US Securities and Exchange Commission (SEC) has given an ETF the green light. The special thing about it: This ETF offers investors a stake in listed companies that hold assets in Bitcoin.

What emerges from a prospectus that was filed with the SEC on October 1. The new exchange-traded fund is called Volt Crypto Industry Revolution and Tech ETF. Its purpose is to track the performance of listed companies that either generate most of their profits from selling mining equipment, mining Bitcoin or keep most of their net assets in the most popular cryptocurrency.

These are companies such as Marathon Digital Holdings and MicroStrategy.

Fund to achieve capital growth

The Volt Crypto Industry Revolution and Tech ETF is designed to generate capital appreciation. According to the prospectus, the annual operating costs of the fund are limited to management fees of just 0.85%. Operating costs are what is paid each year as a percentage of the investment's value. There are no other fees.

At least four-fifths of the fund's net assets are invested in crypto stocks. The rest will offset the risk by investing in more traditional stocks. The fund should not hold any cryptocurrencies directly.

Just a few days ago, the SEC postponed its decision on a number of Bitcoin ETFs. These include, for example, GlobalX and Valkyrie. At the same time, more and more applications for Bitcoin ETFs are being received. The popular crypto exchange BlockFi applied for an ETF for Bitcoin futures on Friday, October 8th. As a result, there are now almost 15 active applications pending.

Approval of a real Bitcoin ETF by the end of the month?

Hopeful members of the crypto community feel that getting a Bitcoin ETF approved by the end of the month is not out of the questionThe SEC chairman, Gary Gensler, does not appear to be against the proposals from Valkyrie and BlockFi.

Granted, the crypto community hasn't been waiting for a Bitcoin ETF like Volt, but it's a step in the right direction. After all, it is the first ETF of its kind to receive regulatory approval. The inside article was titled, "The SEC has just approved what's closest to a US Bitcoin ETF." Volt CEO Tad Pak said in an interview that it was difficult to get approval to obtain:

I am a firm believer in Bitcoin and I was excited about launching an ETF that can benefit from the coming Bitcoin revolution. We can get involved in Bitcoin without necessarily owning the coin, especially with option positions. It was very difficult to get it through, but we're really glad they finally approved it.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
BetFury - Stack BFG for daily dividends - Play smart!
Pipeflare - Faucet that pays in ZCash and Doge, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS
Cointiply - The #1 Crypto Earning Site
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
Upland - Collect Digital Properties & Test Your Skills
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!

FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes

Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, USDT, FEY, 25 Claims Daily 

Comments

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin

MSP Recovery and Tokenology aim to optimize healthcare with the help of Polygon

  MSP Recovery LLC, a Miami, US-based healthcare provider with an estimated enterprise value of $32.6 billion, is partnering with Web3 company Tokenology to jointly launch a new blockchain platform called Lifechain. Lifechain wants to leverage the verifiable and transparent nature of blockchain technology to aggregate medical care claims, medical expense reports and patient data and streamline their processing. For this purpose, MSP Recovery launched its own LifeWallet in January, which already has 1 million users. In addition to the wallet and blockchain platform, an associated crypto token called LifeCoin is also used. The press release explains that the primary purpose of the system is to enable secondary healthcare providers to more effectively bill health insurance companies for their costs. “The number of medical claims tokenized going forward will surpass $50 million per day by 2024. For this we need scalability, security and sustainability, which we have only found with Polygon

British financial regulator criticizes cooperation between Binance and Paysafe

  The British financial regulator FCA has expressed concerns about the partnership between market-leading crypto exchange Binance and payment service provider Paysafe. As the British regulator complains, the partnership gives Binance access to the influential British payment network Faster Payments Service (FPS), from which the crypto exchange was previously cut off. Last June, the FCA ordered Binance to stop all business activities in Great Britain. As a result, prominent banks such as Barclays have terminated their cooperation with the leading crypto trading platform . Through the cooperation with Paysafe, Binance can now again offer deposits in British pounds sterling and transactions within the European Payments Area (SEPA). However, this fact is a thorn in the side of the FCA, as it classifies the crypto exchange as a “considerable risk factor”. However, the financial regulator sees little room for maneuver to counteract this, as the Financial Times reports . “ Paysafe understands