The New York Stock Exchange (NYSE) continues to list bitcoin-related ETFs (BTC), with Volt Equity being the latest to list such a product.
Crypto Industry Revolution and Volt Equity’s Tech ETF will begin trading on NYSE Arca on Thursday, CEO Ted Park told Cointelegraph. The ETF will be available for trading on the open market under the ticker BTCR.
BTCR will open at $ 21, indicating a specific bitcoin rate of 21 million BTC. According to the company, the ETF is implementing a governance approach based on the PlanB Bitcoin Stock Flow (S2F) model, a key quantitative model that aims to predict the price of BTC.
“We look to the popular Stock-to-Flow model as input to understand how and when a shock to Bitcoin mining due to a planned halving could affect the price of Bitcoin. Based on what we see, we can adjust our mining-related equivalent exposure. ”
Volt Equity was approved by the US Securities and Exchange Commission in early October and is not just a Bitcoin ETF as it relies on companies that are heavily involved with Bitcoin.
The ETF tracks so-called “Bitcoin Revolutionary Corporations” including MicroStrategy, Tesla, Twitter, Square and Coinbase, as well as Bitcoin miners such as Canaan, Bitfarms, and Riot Blockchain. Volt Equity will regularly review fund holdings and allocations “as needed” based on research, data and models such as S2F.
“Bitcoin is not just a coin,” said Park.
On the subject: Gary Gensler, chairman of the Securities and Exchange Commission, is actually a bitcoin supporter, says Volt Equity CEO.
The most recent ETF issue came shortly after NYSE Arca was listed on the Bitcoin futures ETF by investment firm ProShares on October 19. As previously reported, the ProShares Bitcoin Strategy ETF is the first Bitcoin futures ETF launched in the US. …
Bitwise Asset Management also submitted a pure Bitcoin ETF listing on NYSE Arca to the Securities and Exchange Commission in mid-October. The Securities and Exchange Commission (SEC) has yet to approve an ETF that directly tracks the price of bitcoin.
Major asset manager AXS Investments placed an order for two bitcoin futures ETFs on Wednesday. According to Bloomberg ETF analyst Eric Balchonas, major investment firm Grayscale Investments expects the Securities and Exchange Commission to approve the spot Bitcoin ETF by July 2022.