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The U.S. Securities and Exchange Commission (SEC) has approved a new Bitcoin (BTC) futures exchange traded fund (ETF) run by Teucrium.
The SEC announced the approval in a filing on its website, adding Teucrium to a host of other Bitcoin futures ETF issuers.
An approval under the Securities Act of 1933, under which Teucrium's filing falls, may potentially open the door for a spot Bitcoin ETF.
Proponents of cryptocurrency ETFs have argued that “like situations must be treated alike,” citing an argument from cryptocurrency company Grayscale, which has filed to convert its Grayscale Bitcoin Fund (GBTC) to an ETF.
The SEC has, so far, disapproved all spot Bitcoin ETF applications, citing concerns about market manipulation and a lack of market surveillance. That has not stopped various companies from trying to bring a Bitcoin ETF to market.
ProShares, Valkyrie, and VanEck are among the brokerages approved to list and trade Bitcoin futures ETFs in the U.S.
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