According to Bloomberg, the Hashdex Bitcoin futures ETF (coded DEFI) issued by Teucrium has been launched on the New York Stock Exchange and started trading. DEFI was submitted under the Securities Act of 1933, not the Investment Company Act of 1940. According to analysis, since the US Securities and Exchange Commission (SEC) has repeatedly denied that physical-backed Bitcoin ETFs fall within the scope of the 1933 Act, the launch of DEFI may become a key step in the approval of physical Bitcoin ETFs. Foresight News previously reported that in April the U.S. SEC had approved Teucrium to issue a bitcoin futures exchange-traded fund (ETF), which will be listed on the high-growth sector of the New York Stock Exchange.