S-1: Teucrium Launches 7RCC Spot Bitcoin & Carbon Credit Futures ETF

Sentiment:

S-1 Registration Statement 17 September 2025 3:46 PM

📋All filings for Teucrium Commodity Trust

Teucrium Trading, LLC registers a new series, the 7RCC Spot Bitcoin and Carbon Credit Futures ETF, designed to offer investors exposure to bitcoin and carbon credit futures with an environmentally responsible approach.

Delay expectedThe registration statement indicates that its effective date may be delayed until a further amendment is filed or until the SEC determines it effective.The timing of the 'In-Kind Regulatory Approval' to permit the Fund to create and redeem Shares in-kind for bitcoin and/or futures contracts is unknown, and there is no guarantee it will be received.

Capital raiseThis is an initial public offering (IPO) of Shares of the 7RCC Spot Bitcoin and Carbon Credit Futures ETF.Shares will be continuously offered under the Securities Act of 1933.The Fund continuously offers Creation Baskets (10,000 Shares) or multiples thereof at their Net Asset Value (NAV) to institutional firms (Authorized Purchasers).The initial Authorized Purchaser is expected to purchase ten initial Creation Baskets of 10,000 Shares at a per Share price of $25.00.The filing fee will be calculated and paid in accordance with Rule 456(d) and Rule 457(u) for an indeterminate amount of securities.

Summary

The 7RCC Spot Bitcoin and Carbon Credit Futures ETF (BTCK) is a new exchange-traded fund designed to reflect the daily price changes of bitcoin and Carbon Credit Futures, less operational expenses.
The Fund's investment strategy allocates approximately 80% of its assets to bitcoin and 20% to Carbon Credit Futures under normal market conditions.
The Carbon Credit Futures are linked to emissions allowances from the European Union Emissions Trading System (EU ETS), California Cap and Trade (CCA), and Regional Greenhouse Gas Initiative (RGGI).
Teucrium Trading, LLC, the Fund's sponsor, is a registered Commodity Pool Operator (CPO) and Commodity Trading Advisor (CTA).
The annual Sponsor Fee is 0.68% of the Fund's average daily net assets, from which the Sponsor contractually pays most routine operational and administrative expenses.
A hypothetical initial investment of $25.00 per Share would require a 0.16% ($0.04) return over one year to break even, offsetting estimated fees and expenses.
Shares are created and redeemed in blocks of 10,000 (Creation/Redemption Baskets) by Authorized Purchasers for cash, with a $300 fee per order. In-kind transactions for bitcoin/futures are subject to future regulatory approval.
Gemini Trust Company, LLC serves as the Bitcoin Custodian (primarily cold storage), and U.S. Bank, N.A. is the Non-Digital Custodian for cash and cash equivalents.
Kaiko provides the Bitcoin Price for the index, and Solactive AG calculates the Carbon Credit Futures sub-indexes and the overall 7RCC Kaiko Bitcoin Carbon Credit Index.

Sentiment

Score: 5

Explanation: The filing is a registration statement for a new product, so it primarily outlines the structure, strategy, and extensive risks. It does not contain performance results. The sentiment is neutral, as it presents both the investment opportunity and a comprehensive list of inherent risks associated with digital assets and commodity futures, without any immediate positive or negative performance news.

Positives

The Fund offers a unique investment vehicle combining spot bitcoin exposure with carbon credit futures, appealing to investors seeking an environmentally responsible approach to digital assets.
The Sponsor contractually agrees to pay most routine operational, administrative, and ordinary expenses, potentially reducing the direct expense burden on the Fund.
The Fund's structure is designed to allow market arbitrage opportunities, which are expected to help keep the market price of Shares closely aligned with the Net Asset Value (NAV).
The use of a New York-licensed limited purpose trust company (Gemini Trust Company, LLC) as Bitcoin Custodian aligns with institutional-grade security and regulatory standards for digital asset custody.

Negatives

The Fund's 80% allocation to bitcoin exposes it to extreme volatility inherent in the digital asset market, which could lead to significant losses.
The digital asset markets operate in a state of significant regulatory uncertainty, with potential for adverse legislative or regulatory developments that could harm the value of bitcoin or the Shares.
The Fund is not diversified, making its value highly susceptible to negative impacts on bitcoin and carbon credit markets.
The current cash-only creation and redemption model, while common in some ETFs, may lead to delays in trade execution and potential deviations between the market price and NAV.
The Fund is new and has no operating history, which generally implies higher risks compared to established funds.
Shareholders will not receive cash distributions from the Fund, which may be a disadvantage for investors needing cash to cover tax liabilities on their share of income and gains.
The Fund irrevocably abandons any Incidental Rights and IR Virtual Currency (e.g., from forks or airdrops), meaning shareholders will not benefit from such events.
The Bitcoin Custodian's and Non-Digital Custodian's liability is limited, and their insolvency could result in substantial losses for the Fund's assets.

Risks

Unlike mutual funds, the Fund generally does not distribute dividends to Shareholders, requiring investors to fund tax obligations from other sources.
Investing indirectly in bitcoin and Carbon Credit Futures involves inherent risks of this investment strategy.
The Fund has a limited number of Authorized Purchasers; if these institutions exit or are unable/unwilling to process orders, Shares may trade at a discount, face trading halts, or delisting.
The trading prices of many digital assets, including bitcoin, have experienced extreme volatility and may continue to do so, materially adversely affecting the value of Shares.
Digital assets represent a new and rapidly evolving industry, and the value of Shares depends on the acceptance of bitcoin.
Competition from the emergence or growth of other digital assets or methods of investing in bitcoin could negatively impact the price of bitcoin and the value of Shares.
Digital assets are bearer instruments; loss, theft, destruction, or compromise of associated private keys could result in permanent loss of the asset.
Due to the unregulated nature and lack of transparency surrounding digital asset exchanges, they may experience fraud, security failures, or operational problems, adversely affecting bitcoin value and Shares.
The impact of geopolitical or economic events on bitcoin supply and demand is uncertain, potentially motivating large-scale sales and reducing bitcoin value.
Changes in the governance of a digital asset network may not receive sufficient support from users and miners, negatively affecting network growth and responsiveness.
Failure to safeguard and manage the Fund's bitcoin could adversely impact the value of Shares.
Security threats to the Fund's account with the Bitcoin Custodian could result in halted operations, loss of Fund assets, or damage to reputation.
Bitcoin transactions are irrevocable; stolen or incorrectly transferred bitcoin may be irretrievable.
The lack of full insurance and Shareholders' limited rights of legal recourse against the Fund, Trustee, Administrator, and/or Bitcoin Custodian exposes the Fund and its shareholders to the risk of loss.
U.S. digital asset markets exist in a state of regulatory uncertainty, and adverse legislative or regulatory developments could significantly harm the value of bitcoin or the Shares.
The U.S. federal income tax treatment of transactions in digital assets is unclear.
There is no assurance that cap-and-trade regimes will continue to exist, and new technologies may diminish or eliminate the need for such markets.
Emissions limits allocations may not properly reflect the amount needed for a stable price of credits, leading to large price volatility.
Legislative or regulatory changes may impact the operation of the Fund, the regulation and enforcement of cap-and-trade regimes, and market behavior.
Investments in commodity-linked derivatives, such as Carbon Credit Futures, involve risks that are greater than, and different from, investing directly in the referenced commodity.
Commodity-linked derivatives may be subject to greater price volatility than the underlying reference asset.
The Fund obtains exposure to Carbon Credit Futures with multiple geographic focuses (EU, California, RGGI), subjecting it to accompanying geographic risks.
The Fund may experience risks related to the energy, agriculture, and metal sectors in connection with its exposure to Carbon Credit Futures.
The price relationship between near-month and rolled Carbon Credit Futures will vary and may impact the Fund's total return and tracking, with prolonged contango having a significant negative impact.
Position limits and margin requirements, among other limitations, may cause tracking error, leading to the price of Shares substantially varying from the Index.
The Fund is deemed a commodity pool and is subject to regulation under the CEA and CFTC rules, which may increase compliance costs and affect operations.
The Index has a limited history, and the Bitcoin Price could fail to track the global bitcoin price, adversely affecting Shares.
The price used by the Index to calculate the value of bitcoin may be volatile, adversely affecting Shares.
The Bitcoin Price being used to determine NAV may not be consistent with GAAP, leading to differences in reported NAV in financial statements.
Shareholders have no rights to participate in the management of the Fund and must rely on the Sponsor's judgment.
The Fund pays fees and expenses that are incurred regardless of whether it is profitable.
The Fund is not actively managed and seeks to track an index, not profit from speculative trading or leverage, potentially leading to avoidable losses.
Regulation of commodity interest transactions is a rapidly changing area of law, and future U.S. or foreign regulatory changes may alter the nature of an investment or the Fund's ability to implement its strategy.
Failures or breaches of electronic systems of the Fund, Sponsor, third parties, or public health emergencies can cause disruptions and financial losses.
War and other geopolitical events, including the Russia-Ukraine conflict and conflicts in the Middle East, have caused and may continue to cause volatility in commodity prices.
Backwardation benefits the Fund, while contango negatively impacts it.
The ability of Authorized Participants to create or redeem shares may be suspended, which could cause the price of Fund shares in the secondary market to trade at a premium or discount.
The Fund is new and an investment may have more risks than an investment in an established, larger fund; the Sponsor has limited history operating such vehicles.
Regulatory changes or interpretations requiring Authorized Purchasers to register as money service businesses could result in extraordinary expenses or increased commissions, reducing Fund liquidity.
There are certain risks and tax considerations due to the Fund's cash transactions for the creation and redemption processes.
Potential conflicts of interest may arise among the Sponsor or its affiliates and the Fund, potentially favoring their own interests.
The NAV calculation may be overstated or understated if a settlement price is not available or reflective of fair value.
An unanticipated number of redemption requests during a short period could force liquidation of trading positions before optimal times, resulting in losses.
Fund assets could be depleted if investment performance does not exceed fees.
Inflation may cause the present value of the Fund's cash equivalents to decline.
The liquidity of Shares may be affected by the withdrawal of Authorized Purchasers, market makers, or other significant secondary-market participants.
If a minimum number of Shares is not outstanding, market makers may be less willing to purchase Shares in the secondary market, limiting selling ability.
The postponement, suspension, or rejection of redemption orders could adversely affect a shareholder.
The lack of active trading markets for the Shares may result in losses at the time of disposition.
Unanticipated operational or trading problems could arise, adversely affecting the Fund.
The Fund is subject to the regulatory risks associated with being a commodity pool.
The Sponsor is leanly staffed and relies heavily on key personnel; their departure or inability to perform could adversely affect management.
The Sponsor has limited capital and may be unable to continue managing the Fund if it sustains continued losses.
The Fund could terminate at any time, causing liquidation and potential loss of investment.
Shareholders will not have the rights enjoyed by investors in certain other types of entities (e.g., no director election, limited voting, not subject to Investment Company Act protections).
A court could potentially conclude that the assets and liabilities of the Fund are not segregated from those of another series of the Trust, exposing Fund assets to other series' liabilities.
Neither the Sponsor nor the Trustee is obligated to prosecute any action, suit, or other proceeding in respect of any Fund property.
The Fund does not expect to make cash distributions, which may be problematic for shareholders needing cash for tax payments.
The Fund may incur higher fees and expenses upon renewing existing or entering into new contractual relationships with service providers.
The Fund may experience a higher breakeven if interest rates decline, reducing interest income on cash balances.
The amount of assets represented by each Share will decline over time as the Fund pays the Sponsor Fee and other expenses, potentially decreasing Share value.
Intellectual property rights claims may adversely affect the Fund and an investment in the Shares.
The Bitcoin Custodian and Non-Digital Custodian owe no fiduciary duties to the Fund or Shareholders, are not required to act in their best interest, and could resign or be removed, potentially triggering early termination.
The Custodians' ability to adopt technology in response to changing security needs or trends poses a challenge to safekeeping assets.
Affiliates of the Sponsor may invest in or trade bitcoin and/or carbon credit futures without regard to the interests of the Fund or its Shareholders.
Shareholders may be adversely affected by the lack of regular shareholder meetings and limited voting rights.
The Sponsor may take actions in the operation of the Fund that may be adverse to the interests of Shareholders.
The Fund is classified as a corporation for U.S. federal income tax purposes, subjecting it to a 21% corporate income tax rate.
The U.S. federal income tax treatment of transactions in digital assets is unclear, potentially leading to adverse tax consequences.
The state, local, and non-U.S. tax treatment of digital assets is unclear, which could result in adverse tax consequences.
Tax legislation that has been or could be enacted may affect investors with respect to their investment in the Fund.

Future Outlook

The Fund aims to provide investors with a cost-effective means to gain price exposure to bitcoin with an environmentally responsible approach through carbon credits. It expects to closely track the 7RCC Kaiko Bitcoin Carbon Credit Index, with market arbitrage opportunities helping the market price mirror the Fund's NAV. The timing of in-kind regulatory approval for creations/redemptions is unknown, and there is no guarantee it will be received. The next bitcoin halving is estimated for 2028, and the 21 million bitcoin supply cap is estimated to be reached by 2140.

Management Comments

The Sponsor believes this methodology provides a reasonable valuation of the spot price of bitcoin that is reasonably resistant to price manipulation of bitcoin.
The Sponsor believes that by investing in bitcoin and Carbon Credit Futures the Funds NAV will closely track the performance of the Index, before the consideration of expenses from the Funds operations.
The Sponsor also believes that because of market arbitrage opportunities, the market price at which investors will purchase and sell Shares through their brokerdealer will closely track the Funds NAV.
The Sponsor believes that the net effect of these relationships is that the Funds market price on the NYSE Arca at which investors purchase and sell Shares will closely mirror a basket of 80% bitcoin and 20% Carbon Credit Futures.
The Sponsor does not believe that the Funds ability to arrive at such a determination will have a significant impact on the Shares in the secondary market because it believes that the ability to create Shares would be reinstated shortly after such determination is made, and any entity desiring to create Shares would be able to do so once the ability to create Shares is reinstated.

Industry Context

This S-1 filing introduces a novel Exchange Traded Fund (ETF) that combines exposure to spot Bitcoin with carbon credit futures, positioning it as an 'environmentally responsible' digital asset investment. This aligns with the growing trend of integrating ESG (Environmental, Social, and Governance) factors into investment products, even within the volatile cryptocurrency space. The filing highlights the ongoing regulatory scrutiny and uncertainty in the digital asset market, particularly from the SEC and CFTC, which is a significant industry-wide challenge. The mention of recent SEC actions against major digital asset platforms (Binance, Coinbase, Kraken) and the formation of the SEC Crypto Task Force underscores the evolving regulatory landscape. The ETF's structure, with 80% Bitcoin and 20% Carbon Credit Futures, attempts to differentiate itself in a crowded market of Bitcoin-only ETFs by appealing to investors seeking a 'greener' crypto exposure, reflecting a broader industry effort to address environmental concerns associated with Bitcoin mining. The reliance on established index providers (Kaiko, Solactive) and custodians (Gemini, U.S. Bank) indicates an attempt to build trust and legitimacy within a still-maturing asset class.

Comparison to Industry Standards

The Fund's 0.68% annual Sponsor Fee is competitive within the emerging spot Bitcoin ETF market, where fees have been a key differentiator, with some recently approved spot Bitcoin ETFs having fees ranging from 0.20% to 0.90%.
The 80% Bitcoin allocation is typical for a product aiming for primary Bitcoin exposure, while the 20% carbon credit futures allocation is a unique feature not commonly found in other spot Bitcoin ETFs, which typically focus solely on Bitcoin.
The use of Gemini Trust Company, LLC as Bitcoin Custodian, a New York-licensed limited purpose trust company, aligns with industry best practices for institutional-grade digital asset custody, similar to other major Bitcoin ETFs.
The reliance on Kaiko and Solactive for index calculation is consistent with the use of specialized third-party index providers in the ETF industry.
The cash-only creation and redemption mechanism, while common in some ETF structures, differs from the in-kind model preferred by many traditional commodity ETFs and some digital asset ETFs, which could impact arbitrage efficiency and tracking error.

Management Changes

Role	Previous Person	New Person	Effective Date	Reason
Class A Member of Sponsor	Dale Riker	Van Eck Associates Corporation	2024-05-10	Resolution of claims from a settlement agreement.
Chief Operating Officer of Teucrium Trading	NA	Springer Harris	2024-06-14	Appointed by majority vote of Class A Members.

Corporate Governance

Change Type	Description	Effective Date	Impact Assessment
Trust Agreement Amendment	The Fifth Amended and Restated Declaration of Trust and Trust Agreement provides for the establishment and designation of new series of the Trust, such as the 7RCC Spot Bitcoin and Carbon Credit Futures ETF.	2025-09-17	Establishes the legal framework for new series, defining their rights and preferences under the Trust Agreement.
InterSeries Limitation on Liability	The Trust is formed and operated with the goal that each series (including the Fund) will be liable only for its own obligations, and not those of other series or the Trust generally. Separate and distinct records are maintained for each series.	Ongoing from Trust formation	Aims to protect assets of one series from liabilities of another, though court interpretation of this provision under Delaware law is untested.
Sponsor Authority	The Sponsor has sole current authority to manage the investments and operations of the Fund, including allocating expenses and making changes to investment objective, Index, or strategies without shareholder approval, subject to regulatory requirements.	Ongoing	Shareholders have limited influence over fundamental matters and rely on the Sponsor's judgment, which may create conflicts of interest.
Shareholder Voting Rights	Shareholders have very limited voting rights, generally only to elect a successor Sponsor if the current one resigns or loses its charter, or to approve amendments that impair redemption rights, or to dissolve the Trust with a 75% vote.	Ongoing	Limits shareholder control over the Fund's management and strategic direction, concentrating power with the Sponsor.
Fiduciary Duties	The Trust Agreement modifies and restricts the default fiduciary duties under the Delaware Statutory Trust Act for the Sponsor, allowing it to favor its own interests unless acting in bad faith. However, the Sponsor is a registered investment adviser and subject to fiduciary duties in that capacity.	Ongoing	Potentially reduces the Sponsor's liability to the Fund and shareholders, but regulatory registration imposes some fiduciary obligations.

Legal Proceedings

A settlement agreement was entered into on April 26, 2024, effective May 10, 2024, resolving claims in three actions: Dale Riker v. Sal Gilbertie et al., C.A. 656794/2020 (N.Y. Supreme Court); Sal Gilbertie, et. al. v. Dale Riker, et al., C.A. 20201018LWW (Del. Ch.); and Dale Riker, et al. v. Teucrium Trading, LLC, C.A. 20221030LWW (Del. Ch.).
ADM Investor Services, Inc. (ADMIS), the Fund's Futures Commission Merchant (FCM), has been involved in several regulatory actions: a CFTC order on July 12, 2019, imposing a $250,000 civil monetary penalty for failure to diligently supervise; a Commodity Exchange Business Conduct Committee Panel order on January 28, 2020, imposing a $650,000 fine for failure to require accurate client information and supervision; a CFTC order on September 29, 2022, imposing a $500,000 civil monetary fine for failure to supervise employees regarding improper trade transfers; and three separate Panel orders on September 19, 2023, each imposing a $450,000 fine (with specific allocations) for failure to diligently supervise employees and agents regarding account changes and trade transfers in various futures markets.

Related Party Transactions

Teucrium Investment Advisors, LLC, a wholly owned subsidiary of Teucrium Trading, LLC (the Sponsor), is a U.S. SEC registered investment advisor and also registered with the CFTC as a CPO, CTA, and Swap Firm.
Sal Gilbertie and Cory MullenRusin are officers of both Teucrium Trading, LLC and Teucrium Investment Advisors, LLC.
Springer Harris is Chief Operating Officer of Teucrium Trading and also holds an officer role at Teucrium Investment Advisors, LLC.
Messrs. Gilbertie and Harris, Van Eck Associates Corporation, and Ms. MullenRusin are principals of the Sponsor and Teucrium Investment Advisors, LLC due to their positions and/or ownership interests.
GFI Group LLC and NMSIC Classic LLC are principals under CFTC Rules due to ownership of nonvoting securities or capital contribution to the Sponsor.
U.S. Bancorp Fund Services, LLC (Global Fund Services), the Administrator, Transfer Agent, and Fund Accountant, is an entity affiliated with U.S. Bank, N.A. (the Non-Digital Custodian).
The Sponsor and 7RCC Global Inc. (7RCC) have agreements where 7RCC provides research and analysis for marketing and receives resulting profits from the Sponsor Fee after operational costs, and pays any shortfall if the Sponsor Fee is insufficient.
The Marketing Agent receives compensation from the Sponsor for its activities, including annual fees and per-registered representative fees, under a Registered Representative Services Agreement.

Stakeholder Impact

Shareholders: Will gain indirect exposure to bitcoin and carbon credit futures, but face significant volatility, regulatory uncertainty, and limited management control. They will not receive cash distributions for tax purposes and will not benefit from forks or airdrops.
Authorized Purchasers: Facilitate creation and redemption of shares for cash (currently), earning fees but also bearing risks related to market arbitrage and potential regulatory changes.
Sponsor (Teucrium Trading, LLC): Manages the Fund, earns a management fee, and is responsible for operational oversight. Faces conflicts of interest due to managing other funds and its principals' personal trading.
Custodians (Gemini Trust Company, LLC and U.S. Bank, N.A.): Provide critical custody services for digital and non-digital assets, but their liability is limited, and their insolvency could impact Fund assets.
Regulators (SEC, CFTC, NFA): The filing highlights ongoing efforts to establish clear regulatory frameworks for digital assets, indicating potential future impacts on the Fund's operations and the broader market.
Digital Asset Market Participants: The Fund's operations, particularly its large-scale bitcoin holdings and trading, could influence bitcoin prices and market liquidity.
Carbon Credit Market Participants: The Fund's investment in carbon credit futures contributes to demand in these markets, potentially influencing prices and supporting the cap-and-trade regimes.

Next Steps

The registration statement needs to become effective before securities can be sold.
The Fund will file a further amendment to specifically state when the registration statement shall become effective.
The Fund will file quarterly and annual reports with the SEC.
The Fund will post monthly reports to its website (www.teucrium.com).
The Sponsor may change the Fund's investment objective, Index, or strategies, subject to regulatory requirements and shareholder notification via Form 8-K and prospectus supplement.
The Sponsor will continue to monitor and manage relationships with Futures Commission Merchants (FCMs) and seek additional relationships as needed.
The Sponsor will notify shareholders of any material change in the methodology of the Index or sub-indexes.
The Sponsor will continue to review the eligibility of digital asset trading platforms for inclusion in the Index twice a year.
The Sponsor may, in its sole discretion, cause the Fund to price its portfolio based on an alternative index, benchmark, or standard.
The Sponsor may add or terminate other bitcoin custodians or change the custodian for the Fund's bitcoin holdings.
The Fund will provide tax information in accordance with the Code and applicable U.S. Treasury Regulations.

Key Dates

Date	Description
2009-09-11	Teucrium Commodity Trust organized.
2009-11-10	Sponsor (Teucrium Trading, LLC) registered as CPO with CFTC and became NFA member.
2011-05-31	Springer Harris registered as Associated Person and NFA Associate Member of Teucrium Trading LLC.
2012-07-16	Sal Gilbertie registered with NFA as Branch Manager for 65 Adams Road, Easton, Connecticut.
2012-10-01	Springer Harris approved as Branch Manager.
2012-10	Springer Harris became a Swap Associated Person.
2013-12-17	Sponsor issued a patent on certain business methods and procedures.
2014	Gemini established as a cryptocurrency trading platform.
2014-2021	Springer Harris served as a FINRA Supervising Principal.
2015	Gemini Trust Company, LLC licensed by the New York State Department of Financial Services (NYSDFS).
2016-03-15	Annual Report on Form 10-K for the year ended December 31, 2015, filed.
2016-07	Ethereum forked into Ethereum and Ethereum Classic.
2017-08-01	Bitcoin forked into Bitcoin and Bitcoin Cash.
2017-09-08	Sponsor registered as a Commodity Trading Advisor (CTA) with the CFTC.
2017-10-24	Bitcoin Gold fork occurred.
2017-12-28	Bitcoin SegWit2X fork occurred.
2018-09-17	Sal Gilbertie became President, Chief Investment Officer, Chief Executive Officer, and Secretary of the Sponsor. Cory MullenRusin became Chief Financial Officer, Chief Accounting Officer, and Chief Compliance Officer of the Sponsor.
2018-10-08	Cory MullenRusin approved by the NFA as a Principal of the Sponsor.
2018-11	Bitcoin Cash and Bitcoin SV networks split.
2019-04-26	Fifth Amended and Restated Declaration of Trust and Trust Agreement dated.
2019-11-18	Springer Harris withdrew from the Vermont Branch Manager role.
2020-01-31	The United Kingdom officially withdrew from the European Union.
2020-12	FinCEN proposed a rule requiring financial institutions to report and verify identity for certain transactions to/from unhosted wallets.
2021-01	U.S. Treasury Secretary nominee Janet Yellen stated her belief that regulators should look closely at digital assets.
2021-02	The United States re-entered the United Nations-sponsored Paris Agreement.
2021-03-10	Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, filed.
2021-03-16	Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed.
2021-04	President Biden announced a new, more rigorous nationally determined emissions reduction level.
2021-11	President Biden Administration released 'The Long-Term Strategy of the United States: Pathways to Net-Zero Greenhouse Gas Emissions by 2050'.
2022-01-04	Teucrium Investment Advisors, LLC, a wholly owned subsidiary of Teucrium Trading, LLC, was formed.
2022-01-21	Sal Gilbertie and Cory MullenRusin became officers of Teucrium Investment Advisors, LLC.
2022-02	Russia invaded Ukraine.
2022-04-28	Sal Gilbertie and Cory MullenRusin approved by the NFA as Principals of Teucrium Investment Advisors, LLC.
2022-05-02	Teucrium Investment Advisors, LLC registered as a CPO and CTA with the CFTC. Sal Gilbertie registered as an associated person of Teucrium Investment Advisors LLC.
2022-05-09	Teucrium Investment Advisors, LLC registered as a Swap Firm and became a member of the NFA.
2022-05	The digital asset TerraUSD (UST) lost its $1 peg.
2022-08	The Inflation Reduction Act of 2022 was signed into law. Crypto.com received approval from the UK's Financial Conduct Authority.
2022-09-29	CFTC issued an Order finding ADMIS failed to supervise its employees and agents, imposing a $500,000 civil monetary fine.
2022-11	FTX Trading Ltd. halted customer withdrawals and filed for bankruptcy. BlockFi Inc. and Genesis Global Capital, LLC filed for bankruptcy.
2022-12	United Nations Climate Change Conference of the Parties.
2023-01-03	Federal banking agencies issued a joint statement on crypto-asset risks to banking organizations.
2023-01-12	The SEC brought charges against Genesis Global Capital, LLC and Gemini Trust Company, LLC for alleged unregistered offer and sale of securities.
2023-03-10	The value of USDC fell below $1.00 for multiple days after Circle Internet Financial disclosed US$3.3 billion of USDC reserves were held at Silicon Valley Bank.
2023-05	Events related to the adoption of ordinals caused bitcoin transaction fees to temporarily spike. Gemini announced Dublin, Ireland, as the location for its European headquarters.
2023-07	The U.S. District Court for the Southern District of New York ruled on the SEC's action against Ripple Labs, Inc.
2023-09-19	A Panel of the Chicago Board of Trade Business Conduct Committee ordered ADMIS to pay a $450,000 fine. A Panel of the Commodity Exchange Business Conduct Committee ordered ADMIS to pay a $450,000 fine. A Panel of the Chicago Mercantile Exchange Business Conduct Committee ordered ADMIS to pay a $450,000 fine.
2023-09-28	Springer Harris approved as a Principal and registered as an Associated Person and NFA Associate Member of Kelly Strategic Management LLC.
2023-09-29	Kelly Strategic Management LLC approved as a Member of the NFA and registered as a CPO.
2023-10	The New York Attorney General brought charges against Gemini, Genesis Global Capital, and numerous affiliates of Genesis Global Capital, and Digital Currency Group.
2023-11-09	Kelly Strategic Management LLC voluntarily withdrew its NFA membership and CPO registration. Springer Harris's roles with the firm were subsequently withdrawn.
2023-12	United Nations Climate Change Conference of the Parties.
2024-01-16	Start Date for the European, California, and RGGI Sub-indexes, with an initial level of 100.
2024-04	The Bitcoin block reward was reduced from 6.25 to 3.125 bitcoin.
2024-04-26	A settlement agreement was entered into by Teucrium Trading, Salvatore Gilbertie, Carl Miller III, Cory MullenRusin, Steve Kahler, and Dale and Barbara Riker.
2024-05-10	The settlement agreement became effective. Van Eck Associates Corporation replaced Dale Riker as a Class A member of the Sponsor.
2024-05	The Bankruptcy Court of the Southern District of New York approved a settlement of the charges with the Genesis entities.
2024-06-14	Springer Harris was appointed COO of Teucrium Trading by majority vote of the Class A Members. Springer Harris was also approved as a Principal, NFA Associate Member, Associated Person, and Swap Associated Person of Teucrium Investment Advisors LLC.
2024-06-17	Springer Harris was approved as a Principal of Teucrium Trading LLC.
2024-07-09	The IRS issued final regulations on comprehensive financial account information reporting rules for digital assets.
2024-10	Approximately $300 billion invested in products linked to more than 35,000 indices calculated by Solactive AG globally.
2024-11	Approximately 19.8 million bitcoin are outstanding. Bitcoin accounted for approximately 60% of the total market capitalization of all digital assets.
2024-12-31	Bitcoin was the largest digital asset by market capitalization. Over 16,800 alternative digital assets tracked by CoinGecko.com.
2025-01	Bitcoin prices reached new all-time highs. The SEC launched the Crypto Task Force.
2025-01-21	The SEC's acting Chairman Mark T. Uyeda announced the SEC Crypto Task Force.
2025-01-23	President Trump executed the 'Strengthening American Leadership in Digital Financial Technology Executive Order', revoking previous administration's orders.
2025-02	A 60-day stay was granted in the SEC's lawsuit against Binance. Coinbase and the SEC entered into a joint stipulation to dismiss the SEC's lawsuit with prejudice. Kraken announced an agreement in principle with the SEC to dismiss its lawsuit. Approximately $1.5 billion of ether was stolen from the Dubai-based Bybit exchange.
2025-03-01	Bitcoin Custodian maintains $125 million in digital asset insurance.
2025-03-05	Annual Report on Form 10K for the fiscal year ended December 31, 2024, filed with the SEC.
2025-05-12	Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2025, filed with the SEC.
2025-08-04	Volume and allocation data for specific Carbon Credit Futures on ICE provided in the prospectus.
2025-08-11	Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2025, filed with the SEC.
2025-09-17	Date of the Instrument Establishing New Series of Teucrium Commodity Trust. Date of the S-1 Registration Statement.
2028	Next estimated bitcoin halving is expected to occur.
2140	Estimated date when the 21 million bitcoin limitation will be reached.

Keywords

Bitcoin ETF, Carbon Credit Futures, Commodity Pool, Teucrium Trading, 7RCC, BTCK, Digital Assets, Cryptocurrency, ESG Investing, Environmental Commodities, SEC Filing, S-1 Registration, Spot Bitcoin, EU ETS, California Cap and Trade, RGGI, Exchange Traded Fund, Commodity Futures Trading Commission, NYSE Arca

Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.