TechFlow news — January 13: Regulatory filings show that asset management firm Simplify Asset Management has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a Web3-focused exchange-traded fund (ETF). The Simplify Volt Web3 ETF aims to track Web3 companies expected to benefit from technological infrastructure advancements.
If approved, the ETF will trade on the New York Stock Exchange under the ticker symbol WIII. This actively managed ETF will be overseen by Paul Kim, CEO and co-founder of Simplify Asset Management, along with David Berns, chief information officer and co-founder. While the fund will not directly invest in cryptocurrencies, it plans to allocate up to 10% of its total assets to the Grayscale Bitcoin Trust.(Source)
