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- Earlier, on oct 27th volt Equity’s crypto revolution gets listed on NYSE
- The listings come in after a week of the launch of the first ever bitcoin ETF.
- Volt Equity to use a different implementation method for the ETF.
Volt Equity’s ETF gets listed
The New York stock exchange, the world’s most renowned, welcomed yet another Bitcoin ETF this week. The ETF fund is listed by Volt Equity LLC, an asset management firm based out of California. The crypto revolution and Tech ETF will start trading from October 28 at the New York Stock Exchange Arca.
The ETF will be present at the trading market, opening under the ticker name BTCR. The ETF at the opening bell will start trading from $21 with a capped supply of $21 million worth of bitcoin. The listing comes a week after the launch of the proshares Bitcoin ETF, trading under the ticker of BITO. It is assumed that volt equity’s ETF will compete with BITO with a different implementation of the ETF.
The proshares ETF was listed last week on October 19. It opened with a lot of enthusiasm at $41 and saw an all time high of $43.28, lately the most anticipated ETF did not live up to its hype for a longer time and is currently trading at $38.06 at the time of writing. However The launch of ETFs did play a significant role in helping Bitcoin reach an all time high of more than $67,000.
The Stock to Flow model
Volt Equity explained its methods of working. The company uses something called a stock to flow model to implement its ETF and to Quantify the future price of bitcoin more accurately. The model is used to understand how bitcoins scheduled halvings could affect the price and when it would do so.The founder, CEO Tad Park made a statement on how crypto currencies are a revolution and cannot be inflated by a government unlike traditional fiat.
Apart from that, The ETF also tracks alleged bitcoin revolution companies like Tesla and Coinbase and also tracks mining companies like Riot. The volt equity has also made sure to Frequently review and change its allocations Whenever necessary based on their research and calculations. However unlike proshares, The BTCR also includes companies that are more exposed to Bitcoins.
Two more ETFs in pipeline
Apart from these two ETFs, another major ETF from Bitwise is also rumoured to be in the pipeline. An asset management firm AXS investments too have filed for 2 Bitcoin ETFs with the SEC. It is expected that the 2 ETFs will hit the trading grounds by the latter half of 2022.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
