Teucrium Bitcoin Futures ETF is now wearing the Hashdex brand
Teucrium Bitcoin Futures ETF is now wearing the Hashdex brand
- The Hashdex brand could help Teucrium to withdraw its product from the competition, says the analyst of Bloomberg Intelligence
- The industry in the eye, which recently received the approval of the SEC and was submitted under the same regulation, has been submitted under which Spot-Bitcoin ETFs can be submitted
The first Bitcoin Futures-ETF, which has received the SEC approval according to the Securities Act of 1933-the Ordinance, submitted according to the Spot-Bitcoin ETFs-apparently tries to change its name.
The proposed Teucrium Bitcoin Futures Fund, which was Last May was called Hashdex Bitcoin Futures ETF Regulatory disclosure .
hashdex, a asset manager based in Brazil, was not mentioned in the original submission of May 2021. Teucrium Trading remains the fund's sponsor, as the latest document shows, and the specific role that hashdex will play for this fund is unclear.
A Teucrium spokesman refused to comment beyond the submission. A representative of Hashdex did not immediately answer a request for comment.
Eric Balchunas, Analyst at Bloomberg Intelligence ETF, reported the name change A Twitter-Post It is pointed out that this could signal a partnership similar to between ARK Invest and 21shares.
The two companies applied for the launch of the ARK 21shares Bitcoin ETF last year. While 21shares, the largest issuer of stock markets traded crypto products, is listed as a sponsor of the trust, the regulatory disclosure states that ARK "provides support in marketing the shares".
The Ark brand, which is associated with investments in disruptive innovations, has weight with many investors in the USA, despite the negative returns of its products since the beginning of the year. The company has nine ETFs that are traded in the United States with a managed total assets of around $ 20 billion.
This seems to be the first collaboration between Teucrium and Hashdex. Bloomberg Intelligence ETF analyst James Seyffart said that the agreement would go to both companies.
"Hashdex brings a crypto brand name to the product for Teucrium-so could help you to differentiate yourself a little," said Seyffart to block works. "Hashdex also enables you to get a foot in the door of the US ETF ecosystem."
As far as branding is concerned, Hashdex has made headlines in the past few months because it introduced decentralized financing (Defi) and Web3 ETFs on the Brazilian stock exchange B3. The company states that he has invested 250,000 investors in its products worldwide.
The approval of the Bitcoin Futures ETF from Teucrium through the SEC attracted attention among industry observers, since some regarded the agency's decision as a step towards the green light for a spot bitcoin ETF. Other ETFs that invest in Bitcoin futures contracts that were launched last year were submitted under the Investment Company Act from 1940, which offers additional investor protection.
Michael Sonnenshein, CEO of Grayscale Investments, said that Teucrium approval "significantly weakened" the argument of the SEC against a spot bitcoin ETF. Dave Abner, head of business development at the crypto-depotbank Gemini, described the Teucrium approval as the "forerunner" of the supervisory authorities who allow such a product.
other managers in the industry still believe that a spot bitcoin ETF will be on the market at the next year.
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The contribution Teucrium Bitcoin Futures ETF now bears the Hashdex brand and is not a financial advice.
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