CHICAGO, IL, Sept. 14, 2022 (GLOBE NEWSWIRE) — Vedder Price is pleased to announce the launch of a first-of-its-kind Bitcoin ETF registered and regulated solely under the Securities Act of 1933 (the “Securities Act”). The Hashdex Bitcoin Futures ETF (Fund) is distinct from existing Bitcoin Futures ETFs that are registered and regulated under the Investment Company Act of 1940 (Investment Company Act).

The fund is sponsored by Teucrium Trading. Teucrium offers a range of ETFs that focus on giving investors exposure to alternative markets, including soft commodity markets such as wheat and corn. Vedder Price, led by shareholder Tom Conner, assisted Teucrium in obtaining the necessary regulatory approvals to launch the fund.

The first regulatory approval required was obtaining listing approval from the SEC. The SEC granted the approval based in part on arguments that the bitcoin futures market has grown and matured to the extent that its surveillance arrangement with the fund’s listing exchange (NYSE Arca) could reasonably be expected to detect trading abuses.

The fund was the first of its kind to receive SEC approval for listing. This listing approval has far-reaching implications for the industry and signals that this type of ETF will continue to be approved by the SEC. Additionally, ETF sponsors have claimed that this approval could open the door for a spot bitcoin ETF, as a spot bitcoin ETF would be subject to the same rules as the fund.

Vedder Price guided Teucrium through the SEC registration process, with the fund’s registration statement expedited by the SEC on September 14, 2022. Vedder Price also assisted Teucrium in obtaining the necessary approvals from the National Futures Association.

About Vedder Price:

Vedder Price is a thriving law firm with eight offices in major global cities including Chicago, New York, Washington, DC, London, San Francisco, Los Angeles, Singapore and Dallas. The company offers a unique and sophisticated…