The US Securities and Exchange Commission has approved Teucrium’s application to establish an exchange-traded fund based on bitcoin futures. Teucrium’s ETF was approved by the Securities and Exchange Commission on April 6, joining a lengthy list of other futures ETF issuers.
Teucrium filed a 19b-4 form with the Securities and Exchange Commission under the Securities Exchange Act of 1934. Furthermore, some firms have already established ETFs for bitcoin futures that have been permitted by the US Securities and Exchange Commission (SEC) under the Investment Company Act of 1940.
Clearance under the Securities Act of 1933, which Teucrium’s registration falls under, might pave the way for a spot bitcoin ETF, according to Bloomberg analyst James Seyffart. Proponents of crypto ETFs have claimed that “similar situations must be treated alike.” Grayscale, for example, has requested to have its Grayscale Bitcoin Fund (GBTC) converted to an ETF.
The SEC has denied all spot bitcoin ETF applications submitted to date due to a lack of a monitoring arrangement between an ETF issuer and a major exchange that trades bitcoin’s backing asset. Despite this, some companies are attempting to launch a Bitcoin ETF.
ProShares, Valkyrie, and VanEck have all been approved by the US Securities and Exchange Commission to list and trade bitcoin futures ETFs. It has also been used by Valkyrie Investment Management to build a 33 Act bitcoin futures ETF, and it has a wide range of applications.
