The US Securities and Exchange Commission (SEC) has approved an application to launch an Exchange Traded Fund (ETF)) by Volt Equity. Information about this appeared on the official website of the regulator.
ETF Volt Equity - Volt Crypto Industry Revolutionand Tech ETF - Will track changes in the stocks of about 30 companies that hold most of their net assets in Bitcoin (BTC). Also, the fund is focused on organizations, a significant share of the profits of which is received from activities related to cryptocurrency. Volt Equity representatives, they said, drew attention to the "bitcoin revolution" companies.
It is known that developers will invest about 25% of the fundinto the largest bitcoin investor - software maker MicroStrategy. Volt Equity also plans to use ETFs to track Tesla, Square, Coinbase and PayPal shares.
Financial instrument, as conceived by the developers,will appear under the ticker BTCR on the New York Stock Exchange within three weeks. Volt Equity is confident that with the help of the ETF developed by the company's representatives, market participants will be able to earn on Bitcoin, bypassing direct investments in cryptocurrency.
Business Insider noted that the approvedthe exchange-traded fund turned out to be closer than other funds to the bitcoin ETF in spirit. Let us remind you that market participants have been waiting for the approval of a financial instrument in the USA for several years. BTCR may become a temporary alternative to bitcoin ETF.
Crypto Industry Pending
Recall that recently SEC Chairman Gary Genslershared with market participants his opinion on exchange-traded funds based on cryptocurrencies. It turned out that he liked the idea of an ETF based on crypto derivatives. Market participants were quick to use the SEC commissioner's remarks to push for approval of the financial instrument. There are currently several applications under consideration by the Commission to launch derivatives-based crypto ETFs.
Recently, Bloomberg analyst Eric Balchunas gaveforecast that US regulators have a 75% chance of approving an exchange-traded fund based on cryptocurrency in October 2021. The expert explained his opinion by the fact that, according to his observations, the SEC is currently considering several “viable” applications for crypto ETFs.
Commission approval of the launch of an exchange-tradeda cryptocurrency-based fund could trigger Bitcoin to enter a new phase of growth. Earlier, PlanB, a well-known analyst in the crypto community, shared this forecast.
Where is it more profitable to buy and sell cryptocurrency? TOP-5 exchanges
For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.
The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.
Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?
Rating of cryptocurrency exchanges:
| # | Exchange: | Website: | Rating: |
|---|---|---|---|
| 1 | Binance (Editor's Choice) | https://binance.com | 9.7 |
| 2 | Huobi | https://huobi.com | 7.4 |
| 3 | Exmo | https://exmo.me | 6.9 |
| 4 | OKEx | https://okex.com | 6.5 |
| 5 | Bybit | https://bybit.com | 6.3 |
The criteria by which the rating is set in our rating of crypto-exchanges:
- Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
- Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
- Additional features and services— futures, options, staking, NFT marketplace.
- Feedback and support– we analyze user reviews and the quality of technical support.
- Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
- final grade– the average number of points for all indicators determines the place in the ranking.
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