Simplify Files Application With SEC for Web 3 ETF

Posted on by American Coins & Gold

Simplify Files Application With SEC for Web 3 ETF
Simplify Asset Management has filed an application with the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) focused on Web 3.In a filing Wednesday, Simplify said the “Simplify Volt Web 3 ETF” would trade under the ticker symbol “WIII” and track Web 3 companies that are expected to benefit from technology infrastructure play.The fund would not invest directly in cryptocurrencies but will allocate up to 10% of its total assets in the Grayscale Bitcoin Trust, which is a unit of Digital Currency Group, which is also the parent of CoinDesk.The ETF would be actively managed by Simplify…