Bitcoin ETF Launched Through New York Stock Exchange by Volt Equity
After waiting for several months, the US Securities and Exchange Commission (SEC) has finally started approving applications submitted for Exchange-Traded Funds (ETFs). This is the reason why the New York Stock Exchange (NYSE) has been carrying out constant listings for exchange-traded funds for cryptocurrencies. At present, some of the major ETFs being listed through the New York Stock Exchange comprise Bitcoin.
The latest listing carried out by the NYSE for the Bitcoin Exchange-Traded Fund is for Volt Equity. Volt Equity is now among the firms that have launched their stock product through the New York Stock Exchange.
The reports reveal that it is the Crypto Industry Revolution and Tech Exchange-Traded Fund that they have launched through the New York Stock Exchange. The particular product has been listed through Arca on October 28, 2021. Ara is the online version of the New York Stock Exchange.
This information was shared by Tad Park, the chief executive officer at Volt Equity. He was really excited that they were finally able to get the approval for listing their Bitcoin Exchange-Traded Fund through the NYSE.
Park stated that they now have the opportunity of offering their clients and users indirect access to Bitcoin. Through Bitcoin, their clients will be able to gain exposure to cryptocurrencies that will be fully regulated and safe. He revealed that their ETF is now available for trading through Arca with the ticker symbol “BTCR”.
When BTCR was listed through the online New York Stock Exchange, it had a trading price worth $21 per share. However, BTCR has been performing well and since its launch, its price has experienced an almost 33% increase. At the time of writing, the BTCR can be seen trading at a price of $27.99 per share.
It was early October of 2021 when the US Securities and Exchange Commission reportedly approved the application submitted by Volt Equity for the launch of a Bitcoin ETF.
When it comes to Volt Equity, the firm itself does not have any Bitcoin under its possession. Instead, it has formed a partnership with firms that currently have Bitcoin and through them, it is providing exposure to its clients in the form of Bitcoin ETF.
This suggests that the Bitcoin ETF being provided by Volt Equity is not as pure as other firms that have direct access to Bitcoin and they are offering indirect access to Bitcoin.
Volt Equity received approval for its BTCR right after the approval was given to an investment company named ProShares. ProShares is a major investment company that had also submitted its request for the approval of Bitcoin futures-linked ETF. The firm finally received approval from the US SEC to launch it through NYSE Arca and then it was BTCR.