SEC approved the Volt Bitcoin Revolution ETF, portfolio includes Tesla and PayPal

October was probably a good month for Bitcoin as the United States Securities and Exchange Commission (SEC) approved the “Volt Bitcoin Revolution ETF.”


Source: SEC

SEC approves Volt Equity ETF providing exposure to Bitcoin-centric companies

Managed by San Francisco-based Volt Equity, the fund will expose retail investors to Bitcoin by creating a portfolio of “Bitcoin Revolution Companies” holding significant amounts of cryptocurrency on their balance sheet.

The whitepaper also states that 80% of the fund’s shares will be allocated to such companies. The new ETF will appear as an Arca listing of the New York Stock Exchange under the ticker symbol BTCR.

In its first application filed in June, Volt said 25% of the fund’s assets would be made up of shares in MicroStrategy, a cybersecurity company that bought large amounts of Bitcoin. However, Volt founder Tad Park says that percentage could be slightly lower when the fund is listed on the New York Stock Exchange in the next few weeks.

The fund will include shares in about 30 companies, including Tesla, Square, Coinbase, and PayPal. Volt has decided to include Twitter, which has recently made Bitcoin part of its operations, and Bitcoin miners like Marathon also hold the currency in their corporate coffers.

In addition, the Bitcoin Revolution Fund will also be less volatile than a pure crypto investment because the plunge in the price of Bitcoin does not have a significant impact on the stocks of companies like Tesla or PayPal. Like other ETFs, the Volt fund’s fees are modest, consisting of 0.85% annual management fees.

Although the SEC gave the green light to the Volt fund, it is pretty difficult to approve a pure Bitcoin ETH. But it does suggest that the agency’s hardline stance on Bitcoin may be softening a bit.

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