Share this article
Simplify Files Application With SEC for Web 3 ETF
The Web 3 ETF would be actively managed by Simplify co-founders Paul Kim and David Berns.
Updated May 11, 2023, 4:12 p.m. Published Jan 12, 2022, 6:40 p.m.
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.
- The fund would not invest directly in cryptocurrencies but will allocate up to 10% of its total assets in the Grayscale Bitcoin Trust. Grayscale is a unit of Digital Currency Group, which is also the parent of CoinDesk.
- The ETF would be actively managed by Simplify Asset Management CEO and co-founder Paul Kim and Chief Investment Officer and co-founder David Berns.
- If approved, the actively managed ETF would be listed and traded on the New York Stock Exchange.
- There has been growing interest in Web 3, which is the third generation of internet services that has been made possible by decentralized networks.
- Most recently, Block Inc. CEO Jack Dorsey publicly sparred with venture capitalists (VCs) over Web 3, stating in a tweet on Dec. 20 that VCs, not users, control Web 3, thus making it a “centralized entity with a different label.”
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Read more: ProShares Files Application With SEC for a Metaverse ETF
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Tensions over El Salvador's bitcoin holdings ease as IMF praises economic progress
The Central American country’s economy is projected to grow 4% this year, the IMF said.
What to know:
- The IMF praised El Salvador's stronger-than-expected economic growth and progress in bitcoin-related discussions.
- El Salvador's real GDP growth is projected to reach around 4%, with a positive outlook for 2026.
- Despite previous IMF recommendations, El Salvador continues to increase its bitcoin holdings, adding over 1,000 BTC during November's market downturn.
Top Stories
