The US Securities and Exchange Commission (SEC) has just given the green light to Volt Equity's application to launch an exchange-traded fund (ETF) targeting a basket of stocks of companies "revolutionizing the Bitcoin industry."
The instrument will start trading on NYSE Arca under the ticker BTCR in the coming weeks.
80% of the assets under management will be made up of shares of organizations that hold Bitcoin as a reserve asset or receive most of their revenue from mining, lending or trading involving cryptocurrencies.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
Volt Equity founder Tad Park has said the ETF will include about 30 companies, including Tesla, Twitter, Square, Coinbase and PayPal.
The Volt Crypto Industry Revolution and Tech ETF does not involve the physical acquisition of Bitcoin.
Bloomberg experts predicted in August the SEC would approve a Bitcoin ETF by the end of October.