CEO of Teucrium and Bitcoin ETF

[Husires]

Last month, the U.S. Securities and Exchange Commission gave the green light to fund firm Teucrium to issue a bitcoin futures exchange-traded product.
Sal Gilbertie, CEO of Teucrium, pointed out a footnote in the regulator’s approval letter to CNBC’s ETF Edge.

In reference to the potential for fraud and manipulation it reads:

“If, however, an exchange proposing to list and trade a spot bitcoin [product] identifies… the regulated market with which it has a comprehensive surveillance-sharing agreement, the exchange could overcome the Commission’s concern…”

 
Crypto firm Grayscale, one of the biggest proponents of a spot-bitcoin ETF and creator of the Grayscale Bitcoin Trust (BTC), recently threatened to sue to SEC over the issue.

But Gilbertie was not convinced of the effectiveness a such a tack arguing

It would take years. The SEC is not going to succumb to that kind of pressure… unless you get a change in leadership who have a sea-change in how they are looking at things… they want to see crypto coins completely surveilled… I don’t see how they’re going to back down from that when they’re all about investor protection.”

Source: https://www.cnbc.com/2022/05/03/sec-lays-out-path-to-coveted-spot-bitcoin-etf-but.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard

According to his words, we will not see Bitcoin ETF in the United States soon, whatever the type of pressure unless you get a change in leadership, this type of change requires political changes and it will not happen soon? What do you think you were optimistic, especially with what happened in Canada and Australia.

[nullama]

Last month, the U.S. Securities and Exchange Commission gave the green light to fund firm Teucrium to issue a bitcoin futures exchange-traded product.
Sal Gilbertie, CEO of Teucrium, pointed out a footnote in the regulator’s approval letter to CNBC’s ETF Edge.

In reference to the potential for fraud and manipulation it reads:

“If, however, an exchange proposing to list and trade a spot bitcoin [product] identifies… the regulated market with which it has a comprehensive surveillance-sharing agreement, the exchange could overcome the Commission’s concern…”

 
Crypto firm Grayscale, one of the biggest proponents of a spot-bitcoin ETF and creator of the Grayscale Bitcoin Trust (BTC), recently threatened to sue to SEC over the issue.

But Gilbertie was not convinced of the effectiveness a such a tack arguing

It would take years. The SEC is not going to succumb to that kind of pressure… unless you get a change in leadership who have a sea-change in how they are looking at things… they want to see crypto coins completely surveilled… I don’t see how they’re going to back down from that when they’re all about investor protection.”

Source: https://www.cnbc.com/2022/05/03/sec-lays-out-path-to-coveted-spot-bitcoin-etf-but.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard

According to his words, we will not see Bitcoin ETF in the United States soon, whatever the type of pressure unless you get a change in leadership, this type of change requires political changes and it will not happen soon? What do you think you were optimistic, especially with what happened in Canada and Australia.

As far as I know the Australian Bitcoin ETF hasn't been launched yet. It's still delayed:

"As crypto ETFs are completely new to Australia and the infrastructure is being built from the ground up, a service provider downstream needs more time to support the launch," the firm said.

It looks like a Canadian company will be the first to launch one in Australia:

Last-minute delays to three Australian cryptocurrency exchange-traded funds (ETFs) could allow Toronto-based 3iQ Digital Asset Management to launch the first of such products in the country

[Lucius]

According to his words, we will not see Bitcoin ETF in the United States soon, whatever the type of pressure unless you get a change in leadership, this type of change requires political changes and it will not happen soon? What do you think you were optimistic, especially with what happened in Canada and Australia.

I think it is completely naive to believe that politics is not the one that has a decisive voice when it comes to anything, especially something that will have to do with a very large amount of money. As I have written before, I think the US has a tactic to try to keep a positive decision as long as possible because it wants to gather as much information as possible about how the instrument works in other countries. In other words, they let others test something, before giving the green light for the same thing in their country.

We can't know when a positive decision will be made, but I hope it could be by the end of next year - although it would be very interesting if the ETF spot was approved in the second half of 2024 and coincided with the halving. Then the dream of many waiting for one massive bull run would come true

[Husires]

It looks like a Canadian company will be the first to launch one in Australia:

I agree, at least something move and this experience will give a good evaluation in Australia.

We can't know when a positive decision will be made, but I hope it could be by the end of next year - although it would be very interesting if the ETF spot was approved in the second half of 2024 and coincided with the halving. Then the dream of many waiting for one massive bull run would come true

I agree, but what he is trying to convey is that the current mentality does not want approval, and therefore even if we wait for several years, no change will happen unless there is a change in the current people.

whatever the arguments presented, let us forget about US BITCOIN ETF for the time being.