Teucrium submits application to launch a Bitcoin ETF

Teucrium, an ETF provider specialising in agricultural exchange-traded products, has filed an application to launch a Bitcoin-based ETF.

According to the filing, the listing of the instrument would take place on the NYSE Arca under the ticker BCFU. The price of the shares of the Bitcoin futures-based ETF would mirror the moves of the CME futures on Bitcoin.

The firm aims to broaden its product line. The company has already issued ETFs based on corn, wheat, soybeans, sugar and a basket of agricultural commodities.

The SEC is currently reviewing similar applications from Galaxy Digital, VanEck, WisdomTree, NYDIG, Bitwise, Valkyrie Digital Assets, Kryptoin, SkyBridge Capital with First Trust Advisors and Fidelity Investments.

In May 2021, the SEC warned about the risks of futures on Bitcoin as ‘extremely speculative’.

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