Teucrium Bitcoin Futures Fund Approved by SEC Under Spot Regulations

The approval of another Bitcoin futures fund is nothing new to the cryptocurrency market, but with the Tucrium Fund, we have probably seen the first approval of ETFs under the Securities Act of 1933, to be met for spot-based ETPs. SEC order. A decision on Tucrium's funding should have been made in January, when many funds were filing for their own ETP registration, but the regulator postponed the decision until April.

Approval of the new fund would put the SEC in a position where it would require strong reasoning and avoid violations of rules during subsequent hearings on Bitcoin ETP as the Commission had in the past rejected all applications for such products.

It is not yet clear if we will see a sharp increase in the number of spot-based Bitcoin ETPs in the coming weeks or months, but companies now have a legal basis to negotiate with the commission if it denies another request.