The ETF would track a benchmark of bitcoin futures contracts.
Add a bitcoin (BTC, +9.41%) futures exchange-traded fund (ETF) to the list of cryptocurrency-focused ETF applications before the U.S. Securities and Exchange Commission (SEC) right now.
ETF provider Teucrium Trading filed an application with the SEC to launch an ETF that would trade on NYSE Arca and would track a benchmark of bitcoin futures contracts.
While the SEC has yet to approve the application of any bitcoin ETF, Teucrium could be hoping the Teucrium Bitcoin Futures Fund (BCFU) would have an advantage over applications that propose ETFs that are physically backed by bitcoin.
Bitcoin ETF proponents have been hoping newly confirmed SEC Chair Gary Gensler will oversee the approval of an ETF, but recent comments from SEC staff that called bitcoin “highly speculative” may mean the regulator is not yet ready to support such a vehicle.
