Simplify Asset Management has filed an application on Wednesday with the U.S. Securities and Exchange Commission for the Simplify Volt Web3 ETF. The fund will also trade under the ticker symbol “WIII” and provide investors exposure to Web3 companies. Web3 is a new concept of the world wide web and is based on blockchain technology and it also incorporates a decentralized token-based economy. The ETF will consist of holdings that are believed to benefit from the development and creation of Web3. Moreover, the ETF will not directly invest in crypto assets like Bitcoin (BTC-USD) or Ethereum (ETH-USD), but as stated in the prospectus: “The fund invests up to 10% of its total assets in the Grayscale Bitcoin Trust (OTC:GBTC).” As with other Simplify ETFs, WIII will have an options overlay strategy that will provide a strategic exposure to the fund and is meant to hedge against significant market declines. According to
