Horticulture centered asset supplier Teucrium Trading recorded an application with the U.S. SEC to dispatch a Bitcoin ETF following BTC fates. Teucrium Trading, an agribusiness centered trade exchanged asset supplier, is intending to extend its ETF suite with Bitcoin (BTC).
On Thursday, the organization documented an application with the United States Securities and Exchange Commission to dispatch a Bitcoin ETF that would follow a benchmark of Bitcoin fates contracts.
Named Teucrium Bitcoin Futures Fund, the arranged ETF is intended to furnish financial backers with an approach to acquire value openness to the Bitcoin market. Should the SEC support the new item, Teucrium will give shares that exchange on the NYSE Arca stock trade under the image BCFU.
The agreement would be gotten comfortable money,“However, the Fund may from time to time trade in other exchange listed Bitcoin interests based on the spot price of Bitcoin,” the application reads.“Because the Fund’s investment objective is to track the price of the Benchmark Bitcoin Futures Contracts, changes in the price of the shares may vary from changes in the spot price of Bitcoin,” Teucrium noted.
Settled in Vermont, Teucrium presently gives a few agrarian ETFs exchanging on NYSE Arca including the Teucrium Corn Fund, the Teucrium Wheat Fund, the Teucrium Soybean Fund, the Teucrium Sugar Fund and the Teucrium Agricultural Fund.
The news comes not long after the SEC gave a financial backer admonition calling attention to the dangers of some common assets with openness to Bitcoin prospects. The commission focused on that Bitcoin is a “highly speculative investment,” expressing that the market isn’t as expected controlled and helpless against extortion or control.