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Wonky SEC Ruling Reignites Spot U.S. Bitcoin ETF Approval Debate

  • U.S. regulators approve Bitcoin futures ETF under 1930s law
  • SEC weakened their own argument against physical funds: BI

Those pining for a physically backed U.S. Bitcoin exchange-traded fund are embracing an under-the-radar ruling from the U.S. Securities and Exchange Commission. 

The SEC gave its blessing to the Teucrium Bitcoin Futures Fund application in a late Wednesday filing. Unlike existing Bitcoin futures ETFs, the Teucrium fund was filed under the Securities Act of 1933, rather than the Investment Company Act of 1940 -- SEC Chair Gary Gensler’s preferred format up to this point.