The impossible has become a reality because the US SEC officially approved the first ETF with exposure to crypto companies.
In this case, it is Volt Equity LLC that is adding this new BTCR ETF to its portfolio to its four other Tech or Cybersecurity ETFs. Volt Equity began the approval process and filed with the SEC in June this year.
As for the more detailed specification, „The Fund is an actively managed exchange-traded fund (“ETF”) that 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.“
With the subsequent addition that it will be mainly revolutionary companies in the bitcoin industry, which hold most of their net assets in BTC on their balance sheet. In addition to companies trading in BTC, these may also be companies whose majority of the revenues come from the production of bitcoin mining equipment or the cryptocurrency mining operation itself.
Tad Pak, the founder and CEO of Volt Equity, told Insider that the ETF will be listed on the NYSE within the next 3 weeks.