The New York Stock Exchange (NYSE) continues to list Bitcoin (BTC) -Linked Exchange-Traded Funds (ETFs), becoming the latest company to make such a product debut on the Vault Equity Exchange.
Vault Equity’s Crypto Industry Revolution and Tech ETF will begin trading on October 28 at the Electronic Securities Exchange NYSE Arca, the company’s CEO Ted Park told Quentelegraph. The ETF ticker symbol will be available for trading at market opening under BTCR.
BTCR will open at $ 21, approving a limited supply of 21 million bitcoins. According to the company, ETF is implementing a management approach informed by PlanB’s Bitcoin Stock-to-Flow (S2F) model, a key quantitative model that is willing to predict BTC prices.
“We consult with the famous stock-to-flow model as an input on how and when the shock of bitcoin mining supply can affect the price of bitcoin due to the determined half. Based on what we see, we can adjust our mining-related exposures accordingly, ”said Volt Equity.
Approved by the United States Securities and Exchange Commission (SEC) in early October, the product of Vault Equity is not a pure Bitcoin ETF because it is based on companies with significant exposure to Bitcoin.
The ETF tracks the so-called “Bitcoin Industry Revolution Company”, which includes Michael Seller’s Microstrategy, Tesla, Twitter, Square, Coinbase Crypto Exchange as well as Bitcoin mining companies such as Kenan, BitFarms and Riot Blockchain. Vault Equity will regularly review the holding and allocation of funds “when appropriate” based on research, data and models such as S2F.
“Bitcoin is not just a currency, it’s a revolution that miners, companies use it on their balance sheets and everyday HODLers who want to keep the first digital store of value that can’t be inflated by the government,” Park said.
Related: SEC Chair Gary Gensler is actually a pro-Bitcoin, argues Vault Equity CEO
The recent ETF launch came shortly after NYSE Arca investment company ProShares listed Bitcoin futures-linked ETFs. As previously reported, ProShares’ Bitcoin Strategy ETF has become the first Bitcoin futures-linked ETF to be launched in the United States.
In mid-October, the main cryptocurrency fund Bitwise Asset Management also applied to the SEC to list a pure Bitcoin ETF on the NYSE Arca. The SEC has not yet approved an ETF that will directly track the price of bitcoin.
The main asset management company is AXS Investments Filed October 27 for two Bitcoin Future ETFs. According to Eric Balchunas, senior ETF analyst at Bloomberg, the main crypto investment firm is Grayscale Investments. Expects The SEC will approve its spot Bitcoin ETF by July 2022.