The Securities and Exchange Commission has approved the Volt Equity ETF, which provides exposure to Bitcoin-centric companies

Volt Crypto Industry and Tech ETF recently got a nod from the United States Securities and Exchange Commission. With this move, investors now have easy access to firms with major exposure to Bitcoin.

The Volt Crypto Industry and Tech exchange-traded fund are aimed at tracking the Bitcoin Industry Revolution Companies, a term given to top Bitcoin asset holders. The Bitcoin Industry Revolution Companies are those entities that have more than 50% of their total assets in Bitcoin. Alternatively, those entities that generate more than half of its income from Bitcoin transactions, lending, or mining also fall under Bitcoin Industry Revolution Companies. As per the official prospectus, 80% of the fund’s entire holdings are going to be allocated to these Bitcoin Industry Revolution Companies. New York Stock Exchange Arca will list the new ETF with the symbol BTCR.

Volt Equity fund does not track the value of Bitcoin or keep the item in possession. Instead, it looks for firms that produce a significant amount of revenue from activities related to Bitcoin. Hence, as of now, the Volt ETF is the nearest equivalent US traders have to a true Bitcoin ETF.

In this context, the United States Securities and Exchange Commission is moving a step closer to approving Bitcoin ETFs, which are still on hold. According to some experts, no decision about Bitcoin ETFs can be taken before 2022. More than a dozen firms have applied for crypto-backed ETFs. The timing of approval would also matter since there might be unfair early-started advantages to the ones that are approved first. Some are speculating on a simultaneous approval of all cryptocurrency ETFs for this reason.