SEC approves Bitcoin ETF that provides exposure to crypto-based firms

U.S. Securities and Exchange Commission regulators have approved the recently filed Volt Crypto Industry Revolution and Tech ETF (BTCR) for trading. While the fund will not directly have positions in Bitcoin as that is not deemed legal by regulators at this moment, the ETF will give market participants indirect access to the space by investing in U.S. and foreign companies that provide exposure to Bitcoin (BTC-USD). In fact, eighty percent of the ETFs holdings will be earmarked for firms that derive the majority of their revenue through the crypto-asset. BTCR is an actively managed ETF that will start trading on the New York Stock Exchange and come with an expense ratio of 0.85%. Moreover, according to the SEC filing, BTCR will include no more than 15% of the fund’s net assets in Grayscale Bitcoin Trust (OTC:GBTC). Daily pre-market price action: BTC-USD +0.9%, GBTC +2.7%. In other crypto news, JPMorgan says the recent rally