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Apr 7, 2022
SEC Approves NYSE Arca and Teucrium to Host Bitcoin Futures ETF
The United States Securities and Exchange Commission (SEC) has approved Bitcoin Futures Exchange-Traded Fund issuers NYSE Arca and Teucrium. The SEC shared their announcement of the approval on Wednesday.
BTC Futures ETF Application Approved
The application submitted by Teucrium and NYSE Arca under the Securities Exchange Act of 1934 is a 19b-4 form to the Securities and Exchange Commission. James Seyffart, a Bloomberg Intelligence Analyst points out that Teucrim’s registration has a possibility to fall under the spot Bitcoin ETF category.
To date, it must be noted that the Commission has rejected all spot Bitcoin Exchange-Traded Fund applications, citing several reasons. This includes raising concerns about market manipulation and a lack of surveillance-sharing agreement between the issuer of ETF and a trading marketplace.
However, the dozens of rejections have not deterred firms from attempting to launch a Bitcoin ETF. Seyffart states,
“Expanding the definition of exchange could eliminate the agency’s primary objection to the products by bringing crypto platforms under SEC’s regulatory framework. Once crypto exchanges are compliant, the SEC’s primary reason for denying spot Bitcoin ETF wouldn’t be valid.”
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Priyanka is an active crypto enthusiast. Having graduated with a BA in Journalism and Mass Communication, she is a passionate content writer with a strong understanding of financial content. She has been writing on crypto and blockchain-related topics for the last three years and is an active trader.