Volt Equity’s ‘Bitcoin revolution’ ETF goes live on NYSE today

Oct 28, 2021 | CoinTelegraph News | 0 comments

Volt Equity’s ETF consults with PlanB’s Bitcoin Stock-to-Flow model to adjust exposure.

The New York Stock Exchange (NYSE) continues listing Bitcoin (BTC)-linked exchange-traded funds (ETF), with Volt Equity becoming the latest company to debut such a product on the exchange.

Volt Equity’s Crypto Industry Revolution and Tech ETF will debut trading on the electronic securities exchange NYSE Arca on Oct. 28, the company’s CEO Tad Park told Cointelegraph. The ETF will be available for trading at market opening under the ticker symbol BTCR.

BTCR will open at $21, giving a nod to Bitcoin’s capped supply of 21 million Bitcoin. According to the company, the ETF is implementing a management approach informed by PlanB’s Bitcoin Stock-to-Flow (S2F) model, a major quantitative model intending to predict BTC price.

“We consult the famous Stock-to-Flow model as one input to understand how Bitcoin’s mining supply shock due to its scheduled halvings could affect Bitcoin’s price and when. Based on what we’re seeing, we could adjust our mining-related exposure accordingly,” Volt Equity said.

Approved by the United States Securities and Exchange Commission (SEC) in early October, Volt Equity’s product is not a pure Bitcoin ETF as it’s based on companies with significant exposure to Bitcoin.

The ETF tracks so-called “Bitcoin Industry Revolution Companies,” including Michael Saylor’s MicroStrategy, Tesla, Twitter, Square, Coinbase crypto exchange as well as Bitcoin mining companies like Canaan, Bitfarms and Riot Blockchain. Volt Equity will regularly review the fund’s holdings and allocations “when appropriate” based on research, data and models like the S2F.

“Bitcoin is not just a coin, it’s a revolution that encompasses miners, companies using it on their balance sheet, and everyday HODLers who want to hold the first digital store of value that can’t be inflated away by a government,” Park said.

Related: SEC Chair Gary Gensler actually is pro-Bitcoin, Volt Equity CEO argues

The latest ETF launch comes soon after NYSE Arca listed a Bitcoin futures-linked ETF by investment company ProShares on Oct. 19. As previously reported, ProShares’ Bitcoin Strategy ETF became the first Bitcoin futures-linked ETF to launch in the United States.

In mid-October, major cryptocurrency fund Bitwise Asset Management also applied with the SEC to list a pure Bitcoin ETF on NYSE Arca. The SEC has not yet approved an ETF that would track Bitcoin price directly.

Major asset management firm AXS Investments filed for two Bitcoin futures ETFs on Oct. 27. According to Bloomberg senior ETF analyst Eric Balchunas, major crypto investment firm Grayscale Investments expects the SEC to approve its spot Bitcoin ETF by July 2022.

News Source from CoinTelegraph.com

Related Articles

Shiba Inu Grows 33% In One Day As Whales Load Up On SHIB

Shiba Inu Grows 33% In One Day As Whales Load Up On SHIB

Shiba Inu has been on the rebound since this week opened up for trading. The meme coin had not had the best of weeks as it had dipped to the $0.00003 range following the market crash. The dips have caused some to panic and question the viability of the cryptocurrency...

FTX.US adds support for Ethereum-based NFTs to its marketplace

FTX.US adds support for Ethereum-based NFTs to its marketplace

After hinting that this feature would come soon, the U.S.-based crypto exchange FTX.US now allows users to buy, sell and display Ethereum NFTs on its previously Solana-only non-fungible token (NFT) marketplace.  According to a tweet from the exchange, Wednesday marks...

Pin It on Pinterest

Share This