Teucrium CEO Slams Gary Gensler’s ETF U-Turn, Reveals Why He’s Backing XRP
Main Idea
Teucrium Trading's CEO discusses the firm's challenges with SEC rule changes in the crypto ETF space and explains their decision to pursue a leveraged XRP ETF due to Ripple's focus on modernizing cross-border payments.
Key Points
1. Teucrium filed its Bitcoin futures ETF under the 1933 Act, facing a long 270-day approval timeline, but the SEC later allowed filings under the 1940 Act, a quicker 75-day process, benefiting larger firms like BlackRock and Fidelity.
2. Sal Gilbertie described the SEC's rule change as 'very disconcerting,' as it cost Teucrium valuable market opportunities despite filing first.
3. Teucrium's approved filing was referenced in Grayscale's successful legal battle against the SEC.
4. Teucrium is now pursuing a leveraged XRP ETF ('Double XRP') due to Ripple's practical focus on modernizing cross-border payments and improving the speed of asset transfers.
5. Sal Gilbertie supports Ripple's mission to replace the outdated SWIFT system, stating, 'Anything that speeds up the system makes sense.'
Description
The post Teucrium CEO Slams Gary Gensler’s ETF U-Turn, Reveals Why He’s Backing XRP appeared first on Coinpedia Fintech News In a recent interview, Sal Gilbertie, CEO of Teucrium Trading, opened up about his firm’s experience in the crypto ETF space and why he’s backing XRP. He said that the SEC was initially hesitant. They asked Teucrium and others to withdraw their filings, citing low liquidity in the futures market. Sal recalled that the government’s stance at the time forced firms like his t...
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