Notably, Teucrium and NYSE Arca filed the application under the Securities Exchange Act of 1934, filing a 19b-4 form with the SEC.
An approval under the Securities Act of 1933, under which Teucrium’s filing falls, may potentially open the door for a spot bitcoin ETF, Bloomberg analyst James Seyffart said on Twitter earlier this year.
The SEC has, to date, disapproved all spot bitcoin ETF applications, citing concerns about market manipulation and a lack of a surveillance-sharing agreement between an ETF issuer and a sizable market that trades the underlying asset.
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