Volt Equity becomes the latest company to launch a Bitcoin ETF on NYSE.

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The New York Stock Exchange (NYSE) continues listing Bitcoin ETF, with Volt Equity becoming the latest company to debut such a product on the stock exchange. Volt Equity’s Crypto Industry Revolution and Tech ETF will debut trading on the electronic securities exchange NYSE Arca on Oct. 28, the company’s CEO Tad Park revealed. The ETF will be available for trading at market opening under the ticker symbol BTCR.

BTCR will open at $21 on New York Stock Exchange. 

BTCR will open at $21, giving the nod to Bitcoin’s capped supply of 21 million Bitcoin. According to the company, the ETF is implementing a management approach informed by PlanB’s Bitcoin Stock-to-Flow (S2F) model, a major quantitative model intending to predict BTC price. “We consult the famous Stock-to-Flow model as one input to understand how Bitcoin’s mining supply shock due to its scheduled halvings could affect Bitcoin’s price and when. Based on what we’re seeing, we could adjust our mining-related 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’s based on companies with significant exposure to Bitcoin.

The latest ETF launch comes soon after NYSE Arca listed Bitcoin Futures ETF.

The latest ETF launch comes soon after NYSE Arca listed a Bitcoin futures-linked ETF by investment company ProShares earlier this month. As reported earlier, ProShares‘ Bitcoin Strategy ETF became the first Bitcoin futures-linked ETF to launch in the United States. In mid-October, major cryptocurrency fund Bitwise Asset Management also applied with the SEC to list a pure Bitcoin ETF on NYSE Arca. The SEC has not yet approved an ETF that would track Bitcoin price directly.

Source: https://coinnounce.com/volt-equity-becomes-the-latest-company-to-launch-a-bitcoin-etf-on-nyse/

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