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ETF Provider Teucrium Trading Files for a Bitcoin Futures ETP
The ETP would track a benchmark of bitcoin futures contracts.
Add a bitcoin futures exchange-traded product (ETP) to the list of cryptocurrency-focused applications before the U.S. Securities and Exchange Commission (SEC) right now.
STORY CONTINUES BELOW
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ETF provider Teucrium Trading filed an application with the SEC to launch an ETP that would trade on NYSE Arca and would track a benchmark of bitcoin futures contracts.
While the SEC has yet to approve the application of any bitcoin ETF, Teucrium could be hoping the Teucrium Bitcoin Futures Fund (BCFU) would have an advantage over applications that propose ETFs that are physically backed by bitcoin.
Bitcoin ETF proponents have been hoping newly confirmed SEC Chair Gary Gensler will oversee the approval of an ETF, but recent comments from SEC staff that called bitcoin “highly speculative” may mean the regulator is not yet ready to support such a vehicle.
CORRECTION (25, May 14:41 UTC): An earlier version of this story claimed that Teucrium had filed for a bitcoin futures ETF. The firm filed for a bitcoin futures ETP.
