New York Stock Exchange (NYSE) continues to list Bitcoin (Bitcoin) Linked Exchange Traded Fund (ETF), Volt Equity has become the latest company to launch this type of product on the exchange.
Volt Equity CEO Tad Park told Cointelegraph that Volt Equity’s crypto industry revolution and technology ETF will be traded for the first time on the electronic stock exchange NYSE Arca on October 28. The ETF will be traded under the stock code BTCR when the market opens.
The opening price of BTCR is $21, which is an endorsement of the supply cap of 21 million Bitcoins.According to the company, the ETF is implementing a management PlanB’s Bitcoin inventory flow (S2F) model, The main quantitative model designed to predict the price of BTC.
“We referenced the famous Stock-to-Flow model as an input to understand how Bitcoin’s mining supply shock affected the price and timing of Bitcoin due to the scheduled halving. According to what we have seen, we can respond accordingly Adjust mining-related exposures locally,” Volt Equity said.
Volt Equity’s product was approved by the U.S. Securities and Exchange Commission (SEC) in early October. It is not a pure Bitcoin ETF because it is Based on companies with significant risk exposure To Bitcoin.
ETF Repertoire The so-called “Bitcoin industry revolution companies” include Michael Saylor’s MicroStrategy, Tesla, Twitter, Square, Coinbase cryptocurrency exchanges, and Bitcoin mining companies such as Canaan, Bitfarms, and Riot Blockchain. Volt Equity will regularly review fund holdings and distributions “when appropriate” based on research, data, and S2F models.
“Bitcoin is not just a coin. It is a revolution. It encompasses miners, companies that use it on their balance sheets, and daily holdings that want to hold the first digital store of value that the government cannot inflate. ,” Parker said.
Shortly after listing on the New York Stock Exchange Arca, the latest ETF was launched Bitcoin futures-linked ETF launched by investment company ProShares October 19th. As mentioned earlier, ProShares’ Bitcoin Strategy ETF became the first Bitcoin futures-linked ETF launched in the United States.
In mid-October, the major cryptocurrency fund Bitwise Asset Management also Apply to the U.S. Securities and Exchange Commission to list a pure Bitcoin ETF Arca on the New York Stock Exchange. The US Securities and Exchange Commission has not yet approved an ETF that directly tracks the price of Bitcoin.
Large asset management company AXS Investments Archive On October 27, the prices of two Bitcoin futures ETFs. According to Eric Balchunas, a senior ETF analyst at Bloomberg, the major crypto investment company Grayscale Investments expect The SEC will approve its spot Bitcoin ETF by July 2022.