Teucrium Trading – an exchange-traded fund provider catering to the agriculture sector – is reportedly having plans down its pipeline to make Bitcoin ETF tracking BTC futures available. 

Specifically, on May 20th, the firm reportedly submitted an application with the US Securities and Exchange Commission (SEC), regarding the roll-out of a new Bitcoin (BTC) ETF, devoted to tracking a benchmark of Bitcoin futures contracts.

The new ETF – goes by the name Teucrium Bitcoin Futures Fund – is reportedly created with a primary goal to equip investors with a method for gaining price exposure to the Bitcoin market. 

If the SEC grants its go-ahead for the project, Teucrium will reportedly work on the issuance of shares that trade on the NYSE Arca stock exchange under the symbol BCFU. 

Cash would be the instrument used for settling the contract. 

“However, the Fund may from time to time trade in other exchange listed Bitcoin interests based on the spot price of Bitcoin. Because the Fund’s investment objective is to track the price of the Benchmark Bitcoin Futures Contracts, changes in the price of the shares may vary from changes in the spot price of Bitcoin” Teucrium additionally explained. 

Teucrium – based in Vermont, Canada – reportedly functions as a provider for numerous agricultural ETFs trading on NYSE Arca, including the Teucrium Corn Fund, the Teucrium Wheat Fund, the Teucrium Soybean Fund, the Teucrium Sugar Fund and the Teucrium Agricultural Fund.

The update reportedly surfaced not long after the SEC put out an investor warning, mentioning the risks of numerous mutual funds with exposure to Bitcoin futures, with warnings of the lack of regulations in the market could lead to victimization by fraud or manipulation.