Add a bitcoin (BTC, +7.15%) futures fund that is exchange-tradedETF) to your set of cryptocurrency-focused ETF applications before the U.S. Securities and Exchange Commission (SEC) at this time.
ETF provider Teucrium Trading filed an application using the SEC to launch an ETF that will trade on NYSE Arca and would track a standard of bitcoin futures contracts.
Although the SEC has yet to accept the application of any bitcoin ETF, Teucrium could be hoping the Teucrium Bitcoin Futures Fund (BCFU) might have an advantage over applications that propose ETFs which are physically backed by bitcoin.
Bitcoin ETF proponents have now been hoping newly confirmed SEC Chair Gary Gensler will oversee the approval of a ETF, but comments which are present SEC staff that called bitcoin “highly speculative” may mean the regulator just isn’t yet willing to support this type of vehicle.