Who Bought $1.6B in Bitcoin Wednesday, and Why?
SEC Approves Volt Equity’s Crypto Stock ETF
The U.S. Securities and Exchange Commission (SEC) has approved an exchange-traded fund (ETF) that aims to provide investors with exposure to publicly traded companies with exposure to bitcoin. According to a prospectus filed Oct. 1, the Volt Crypto Industry Revolution and Tech ETF will track the performance of so-called “Bitcoin Industry Revolution Companies” – publicly listed companies that either hold a majority of their net assets in bitcoin, like MicroStrategy (NASDAQ: MSTR), or that make a majority of their profits through mining or building mining equipment, like Marathon Digital Holdings (NASDAQ: MARA). The SEC’s approval of the fund, which will trade under the ticker BTCR, comes just days after the regulator delayed its decision on four bitcoin ETFs – GlobalX, WidsomTree, Kryptoin, and Valkyrie – to late November at the earliest.