SEC approved Teucrium’s Bitcoin ETF application
A new exchange-traded fund will begin trading on the New York Stock Exchange (NYSE) under the ticker BCFU
08.04.2022 - 07:45
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What’s new? The bitcoin futures ETF from Teucrium, an exchange-traded funds provider, will be launched on the NYSE Arca under the ticker BCFU. The application for the launch has been approved by the US Securities and Exchange Commission (SEC).
The full document on the SEC’s website
What else is known about the new ETF? The application by Teucrium was submitted back in May 2021. Once listed on the exchange, the price of BCFU will be based on the value of bitcoin futures traded on the Chicago Mercantile Exchange (CME).
What had happened before? The SEC has approved applications to launch bitcoin futures ETFs from ProShares as well as VanEck and Valkyrie Investments. However, the Commission’s stance on spot bitcoin ETFs, for now, remains negative. So far, none of the applications submitted have been approved.
At the end of March, it became known that digital asset management company Grayscale is preparing to file a lawsuit against the SEC if it refuses to launch a bitcoin exchange-traded fund. The next decision date for the investment product is July 6, 2022.
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