The U.S. Securities and Exchange Commission has given permission to NYSE Arca and Teucrium to issue a Bitcoin futures exchange-traded fund (ETF). The approval was announced Wednesday in a filing on the SEC’s website. Teucrium is the latest joiner of bitcoin futures ETF issuers.
“ Teucrium and NYSE Arca filed the application under the Securities Exchange Act of 1934, filing a 19b-4 form with the SEC. The already-approved bitcoin futures ETFs filed by other companies were under the Investment Company Act of 1940, which follows a slightly different regulatory pathway to approval.” Bloomberg analyst James Seyffart said on Twitter earlier this year.
“An approval under the Securities Act of 1933, under which Teucrium’s filing falls, may potentially open the door for a spot bitcoin ETF,” He added.
Proponents of crypto ETFs have argued that “like situations must be treated alike,” he said, citing an argument from crypto company Grayscale, which filed to convert its Grayscale Bitcoin Fund (GBTC) to an ETF. (Grayscale is a subsidiary of CoinDesk parent company Digital Currency Group).
