The New York Stock Exchange (NYSE) continues to include exchange-traded funds (ETFs) linked to Bitcoin (BTC), and Volt Equity is the latest company to bring such a product to the stock exchange.
Crypto Industry Revolution and Volt Equity’s tech ETF will debut Thursday on the NYSE Arca Electronic Stock Exchangethe company’s CEO told Cointelegraph, Tad Park. The ETF will be available for trading on the market under the BTCR ticker.
BTCR opens at $ 21, indicating Bitcoin’s limited supply of 21 million BTC. According to the company, the ETF implements a management approach based on PlanB’s Bitcoin Stock to Flow (S2F) model, a key quantitative model that aims to predict the price of BTC.
“We looked at the famous stock-to-flow model as an input to understand how the impact of the Bitcoin mining supply, due to its planned halving, could affect the price of Bitcoin, and when. Based on what we see, we can adjust our mining-related engagement accordingly.Volt Equity said.
Approved by the US Securities and Exchange Commission in early October, Volt Equity’s product is not a pure Bitcoin ETF as it is based on companies with significant exposure to Bitcoin.
The ETF tracks so-called “Bitcoin Industry Revolution Companies” including MicroStrategy, Tesla, Twitter, Square, Coinbase and Bitcoin mining companies such as Canaan, Bitfarms and Riot Blockchain. Volt Equity will regularly review the fund’s holdings and allocations “where appropriate” based on research, data and models such as S2F.
“Bitcoin is not just a currency, it is a revolution that includes miners, companies using it on their balance sheets, and everyday HODLs looking to maintain the first digital store of value that a government cannot inflate.”said Park. .
The latest ETF launch comes shortly after the NYSE Arca listed a Bitcoin futures-linked ETF from the investment company ProShares on October 19.. As previously reported, the ProShares Bitcoin Strategy ETF was the first Bitcoin futures linked ETF to hit the US market.
Mid October, The large crypto fund Bitwise Asset Management has also filed with the SEC to sell a Bitcoin-only ETF on the NYSE Arca. to list. The SEC has yet to approve an ETF that will track the price of Bitcoin directly.
Leading asset management company AXS Investments concerned two Bitcoin futures ETFs on Wednesday. According to Bloomberg senior ETF analyst Eric Balchunas, major cryptocurrency investment firm Grayscale Investments wait the SEC has approved your bitcoin spot ETF for July 2022.