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

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

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

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

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“We are looking at the famous Stock-to-Flow model as an input to understand how the shock of Bitcoin’s mining supply due to its scheduled halving could affect the price of Bitcoin and when. Based on what we see, we might adjust our mining 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 is based on companies with high Bitcoin exposure.

The ETF tracks so-called “Bitcoin Industry Revolution Companies” including MicroStrategy by Michael Saylor, 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 “as applicable” based on research, data and models such as the S2F.

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“Bitcoin isn’t just a coin, it’s a revolution that encompasses miners, the businesses that use it on their balance sheets, and everyday HODLers who want to hold the first store of digital value that doesn’t. cannot be inflated by a government, ”Park said.

Related: SEC Chairman Gary Gensler Actually Pro-Bitcoin, Volt Equity CEO Says

The latest ETF launch comes shortly after NYSE Arca listed an ETF linked to Bitcoin futures by investment firm ProShares on October 19. As previously reported, ProShares Bitcoin Strategy ETF has become the first ETF linked to Bitcoin futures to be launched in the United States.

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In mid-October, leading cryptocurrency fund Bitwise Asset Management also asked the SEC to list a pure Bitcoin ETF on NYSE Arca. The SEC has yet to approve an ETF that would directly track the price of Bitcoin.

Large asset management company AXS Investments deposit for two Bitcoin futures ETFs on October 27. Bloomberg Senior ETF Analyst Eric Balchunas, Leading Crypto Investment Firm Grayscale Investments Says waits The SEC will approve its spot Bitcoin ETF by July 2022.