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While the crypto sector will need to keep waiting for authorization of a Bitcoin Exchange-Traded Fund in the U.S., the nation’s Securities and Exchange Commission went about approving an ETF for businesses holding sizeable amounts of Bitcoin, named the “Volt Bitcoin Revolution ETF.”

Handled by San Fran-based Volt Equity, the fund will be the second-best thing to a Bitcoin ETF in the U.S. by providing direct exposure to businesses that hold a substantial amount of Bitcoin (such as software company MicroStrategy).

Volt asserts the volatility of the fund will be less than one explicitly based on Bitcoin. A dip in the cost of BTC would indeed have a much smaller-sized effect on the share price of the firms holding it, such as Tesla or PayPal, then on Bitcoin itself.

In the past, the SEC has turned away applications for Bitcoin ETFs, citing problems that the BTC market could be susceptible to manipulation. This potential exploit would be diluted via a Bitcoin portfolio ETF. However, speculation has arisen in the sector that the SEC is close to the approval of a Bitcoin ETF. The market watcher Jeff Yew, Chief Executive Officer of Australia’s Monochrome, insists the speculation is a reason behind Bitcoin’s current rate tear over the past week.

Jeff Yew recently informed Forkast.News with the following:

“There’s been speculation that the recent BTC price growth is coming as a result of anticipation for a Bitcoin Exchange Traded Fund in the United States. However, experts have suggested that the decision is likely to be made at the end of the year or in Quarter 1 2022.”

For the very first time since the September selloff, Bitcoin went across the US$50K mark earlier in the week, acquiring 34% since the month’s beginning to trade at US$ 55,176 at its peak yesterday.

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