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).
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