New application on SEC! Web 3 is coming! ›Quinturk

New application on SEC!  Web 3 is coming!  ›Quinturk
US stock markets may soon be flooded with more crypto-traded funds.

Last year, the Securities and Exchange Commission (SEC) gave a big surprise ETF approval for bitcoin futures. However, an application for a different ETF was submitted today in the evening. We know that cryptocurrencies are not just about Bitcoin and Ethereum, and we believe that the future will be in blockchain-based systems. Only a company with this perspective wants to launch an ETF to invest in the future.

Web ETFs 3

Streamlined Founders Paul Kim and David Burns New Securities and Exchange Commission Grants ETF feet on. Simplify Asset Management has filed a complaint with the US Securities and Exchange Commission (ETF) regarding a Web 3 focused ETF.SEC) has been applied. In a filing Wednesday, Simplify announced that the “Simplify Volt Web 3 ETF” will be traded under the ticker “WIII” and is expected to benefit from its technology infrastructure. web 3 He said he would monitor their company.

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The fund will not invest directly in cryptocurrencies, but will allocate 10% of its total assets to the Grayscale Bitcoin Trust, which is also a unit of the cryptocurrency pool. ETF, Simplify asset management It will be actively led by CEO and Co-founder Paul Kim, CIO and Co-founder David Burns.

Simplifying Volt Web 3 ETF (WIII)

ETF If the request is approved New York Stock ExchangeIt will be listed and traded. There is a growing interest in Web 3, the third generation of Internet services made possible by decentralized networks. The main objective of the company is to produce an investment vehicle that can satisfy the interest of institutional investors. Everyone will be able to invest in the future with this fund, much easier than investing in famous Web3 companies.

at the same time 10% GBTC It will also maintain the strength of the fund’s correlation with cryptocurrencies. lately, block you. CEO Jack Dorsey had a public discussion with VCs across Web 3. In a tweet on December 20, he stated that VCs, not users, control Web 3, making it a “central entity with a different brand.”

But in a scenario where strong capital does not support such innovation, Web3 development seems unlikely. Jack Dorsey Although he criticizes this, he also contributes to the centralization of the cryptocurrency ecosystem in proportion to its capital. If the problem is that this hub is not Block Inc, his discomfort is understandable.

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