The U.S. SEC has approved proposed rule changes to the Hashdex BTC futures ETF, which aims to change certain statements related to ETFs. Bloomberg analyst James Seyffart said he believed it was an approval order to convert the Hashdex product from a Teucrium trust product to a Tidal trust product.

NYSE Arca filed a proposed rule change with the SEC on Dec. 1. This change is intended to amend certain statements made by the Hashdex Bitcoin Futures Fund BTC. The Fund is currently listed and traded on NYSE Arca under Rule 8.200-E.
This rule change mainly relates to the details of the restructuring of the Hashdex BTC Futures Fund into the Hashdex BTC Futures ETF, which will be part of the Tidal Commodities Trust I family of products. After the restructuring, the assets and liabilities of the original fund will be transferred to the new ETF, and the unit holders of the original fund will automatically become the share holders of the new ETF, holding shares of the new ETF equal to the net asset value (NAV) of the original fund.
The SEC has approved this rule change, emphasizing that the change will not have a material impact on investor protection or the public interest, and will not impose an unnecessary or undue burden on competition. The change reflects the organizational and administrative changes implemented as a result of the restructuring, but does not change the investment objective of the ETF.