BTCK
Bitcoin Exposure. Carbon Offset. Environmental Market Diversification.
BTCK seeks to provide exposure to Bitcoin while aiming to offset the estimated carbon footprint associated with the fund's Bitcoin holdings. The fund implements this strategy by holding a portfolio of both spot Bitcoin and carbon credit futures.
BTCK seeks to track the performance of Bitcoin, allowing investors to participate in its growth potential through a familiar ETF structure, enhanced with a layer of environmental responsibility.
BTCK targets an approximate 20% allocation to regulated carbon credit futures. These futures are designed to track the price of carbon allowances from established government-mandated markets, such as those in Europe and California. This strategy is employed with the objective of offsetting the estimated carbon footprint associated with the fund's Bitcoin holdings.
Bitcoin mining's energy consumption is more than the entire country of Norway, and similar to the total electricity consumption of Greece or Austrailia.[1]
[1]U.S. Energy Information Administration. "Short-Term Energy Outlook." U.S. Energy Information Administration. January 13, 2026. https://www.eia.gov/outlooks/steo/.
BTCK is an exchange-traded fund (ETF) that seeks to provide investors with exposure to the price of Bitcoin and carbon credit futures. The Fund’s investment strategy is to track the 7RCC Kaiko Bitcoin Carbon Credit Index, which systematically maintains an 80% allocation to spot Bitcoin and a 20% allocation to a basket of regulated carbon credit futures. This structure is designed to offer the growth potential of Bitcoin while systematically offsetting the carbon footprint associated with the fund's holdings.
IMPORTANT INFORMATION ABOUT THE FUND'S BID-ASK SPREAD
Shares of the 7RCC Spot Bitcoin and Carbon Credit Futures ETF (the "Fund"), a series of Teucrium Commodity Trust, are bought and sold at market price on NYSE Arca, not at net asset value ("NAV"). The market price of Fund Shares reflects a bid price (the highest price a buyer is willing to pay) and an ask price (the lowest price a seller is willing to accept). The difference between those prices is the "bid-ask spread." The spread is a cost borne by investors who buy or sell Shares in the secondary market, and it is in addition to the Fund's management fee and other expenses.
The Fund's bid-ask spread has been, and currently remains, wider than the spreads typically experienced by larger, more actively traded exchange-traded products.
Why the Fund's spread is wide. The Fund is small and thinly traded. As of September 2, 2026, the Fund had net assets of approximately $1,364,000 and its median daily trading volume since inception was approximately 160 Shares. On a substantial number of trading days, no Shares of the Fund traded at all. Exchange-traded products with a small asset base and low trading volume typically exhibit wider bid-ask spreads, because market participants that quote the Shares incur greater cost and difficulty in hedging and unwinding positions.
The Fund has reached its minimum level of outstanding Shares. On August 31, 2026, the Sponsor filed a Current Report on Form 8-K reporting that the number of outstanding Shares of the Fund had reached the minimum level of 50,000 Shares, consisting of five baskets of 10,000 Shares each. As disclosed in the Fund's Prospectus under "Creation and Redemption of Shares - Suspension or Rejection of Redemption Orders," the Sponsor reserves the right to reject a redemption order if the number of Shares being redeemed would reduce the remaining outstanding Shares below 50,000 Shares. Because the Fund is currently at that minimum level, the Sponsor will reject redemption orders that would cause the Fund's outstanding Shares to fall below this minimum threshold until there are additional creation orders that increase the number of Shares outstanding.
The ability of authorized participants to create and redeem Shares is a principal mechanism by which the market price of an exchange-traded product is kept in line with the value of its holdings. To the extent that mechanism is limited or unavailable, bid-ask spreads may widen further, and the market price of the Shares may deviate more significantly, and for longer periods, from the value of the Fund's holdings. Investors should review the Form 8-K filed on August 31, 2026 and the Fund's Prospectus for additional information.
What this means for investors. A wide bid-ask spread increases the cost of buying and selling Fund Shares and may cause the price you pay or receive to differ significantly from the Fund's NAV. An investor who purchases Shares and sells them a short time later may lose money even if the Fund's NAV has not declined. These conditions may continue, and spreads may widen further, for so long as the Fund's asset base and trading volume remain at or near current levels and the Fund remains at its minimum level of outstanding Shares. There can be no assurance that the Fund's bid-ask spread will narrow. Investors should consult their broker or financial professional regarding order types and trade execution.
Investors should carefully consider the Fund's investment objective, risks, charges and expenses before investing. This and other information is contained in the Fund's Prospectus, which should be read carefully before investing, including the risk factors relating to secondary market trading, liquidity, creation and redemption of Shares, and market price variance from NAV.
The fund's cash collateral may earn interest income. Additionally, the futures market structure may provide roll yield.
BTCK is a commodity pool that seeks to track a custom index composed of Bitcoin (80%) and Carbon Credit Futures (20%). It is designed for investors who want exposure to Bitcoin while offsetting its associated carbon emissions.
The Fund seeks to provide exposure to Bitcoin and carbon credit futures prices. Its strategy is to track the 7RCC Kaiko Bitcoin Carbon Credit Index, which maintains a systematic 80% allocation to spot Bitcoin and a 20% allocation to regulated carbon credit futures. The Index rebalances systematically (quarterly) to preserve this institutional-grade allocation.
Carbon Credit Futures are financial derivative contracts where the underlying asset is a carbon credit. Each carbon credit generally represents a permit to emit one metric ton of carbon dioxide (or an equivalent greenhouse gas). BTCK provides exposure to the price of these futures.
BTCK holds a 20% allocation in regulated carbon credit futures, providing exposure to the price of carbon credits from the world's most liquid environmental commodity markets: the European Union Emissions Trading System (EU ETS), the California Carbon Allowance (CCA), and the Regional Greenhouse Gas Initiative (RGGI). This structure is designed to offset the carbon footprint associated with its Bitcoin holdings.
While Bitcoin is the core potential growth driver, BTCK is not a pure spot Bitcoin ETF. The 20% allocation to regulated carbon credit futures introduces complementary return drivers that are not available in spot-only Bitcoin products. Depending on market conditions, these may include potential roll yield and collateral yield, which can enhance total returns over a full market cycle and create a return profile different from holding Bitcoin alone.
Compliance carbon credits are government-issued or regulator-approved instruments that companies are legally required to purchase to meet emissions limits—creating a large, regulated market backed by real demand.
Voluntary credits are issued by private registries and bought optionally by companies for sustainability or marketing claims.
The key difference: compliance credits are enforced by law, while voluntary credits rely on discretionary corporate initiatives.
BTCK issues tax form 1099
Definitions:
Bitcoin: Bitcoin (BTC) is the first decentralized cryptocurrency, created in 2008. It is a digital form of money that operates on a peer-to-peer network, meaning users can send funds directly to one another without the need for intermediaries like banks or governments.
Carbon Credit Futures: Carbon Credit Futures are financial derivative contracts where the underlying asset is a carbon credit. Each carbon credit generally represents a permit to emit one metric ton of carbon dioxide (or an equivalent greenhouse gas).
7RCC Kaiko Bitcoin Carbon Credit Index: The 7RCC Kaiko Bitcoin Carbon Credit Index is a financial benchmark designed to track the performance of a portfolio that combines digital assets with environmental sustainability. It serves as the underlying index for the 7RCC Spot Bitcoin and Carbon Credit Futures ETF. You cannot invest directly in an index.
Roll Yield: The gain or loss that results from rolling an expiring futures contract into a new one. When the new contract is cheaper than the expiring one (backwardation), the roll generates a gain. When it's more expensive (contango), the roll generates a loss.
This material must be accompanied or preceded by a prospectus. Please read the prospectus carefully before investing. An investor should consider investment objectives, risks, charges and expenses carefully before investing.
The Fund is a commodity pool regulated by the Commodity Futures Trading Commission. The Fund, which is an ETP, is not a mutual fund or any other type of investment company within the meaning of the Investment Company Act of 1940, as amended, and is not subject to regulation thereunder.
Because the Fund invests primarily in spot bitcoin, with a portion allocated to carbon credit futures contracts, an investment in the Fund will subject the investor to the risks of bitcoin and the carbon credit markets. This could result in substantial fluctuations in the price of the Fund’s shares.
Futures investing is highly speculative and involves a high degree of risk. An investor may lose all or substantially all of an investment in the Fund. Investing in commodity interests subject the Fund to the risks of its related industry.
The Fund is a commodity pool regulated by the Commodity Futures Trading Commission. The Fund, which is an ETP, is not a mutual fund or any other type of investment company within the meaning of the Investment Company Act of 1940, as amended, and is not subject to regulation thereunder.
Because the Fund invests primarily in spot bitcoin, with a portion allocated to carbon credit futures contracts, an investment in the Fund will subject the investor to the risks of bitcoin and the carbon credit markets. This could result in substantial fluctuations in the price of the Fund's shares.
Futures investing is highly speculative and involves a high degree of risk. An investor may lose all or substantially all of an investment in the Fund.
Unlike mutual funds, the Fund generally will not distribute dividends to its shareholders. Investors may choose to use the Fund as a means of investing indirectly in bitcoin, and regulated carbon credit futures, and there are risks involved in such investments.
A substantial direct investment in digital assets may require expensive and sometimes complicated arrangements in connection with the acquisition, security and safekeeping of the digital asset and may involve the payment of substantial acquisition fees from third party facilitators through cash payments of U.S. dollars. Because the value of the Trust is correlated with the value of Bitcoin, it is important to understand the investment attributes of, and the market for the underlying digital asset.
An investment in the Fund is subject to correlation risk. Your return on an investment in the Fund may differ from the return of the Benchmark, changes in the Fund’s NAV and the spot price of bitcoin. Therefore, you may not be able to effectively use the Fund to hedge against bitcoin related losses or to indirectly invest in bitcoin.
For a complete description of the Fund’s principal investment risks, please refer to the prospectus.
This material is not an offer or solicitation of any kind to buy or sell any securities outside of the United States of America.
Diversification does not ensure a profit or protect against loss.
This fund may not be suitable for all investors.
The Fund is newly organized and has no operating history. There can be no assurance that the Fund will grow to or maintain an economically viable size.
Teucrium Trading, LLC is the Sponsor for BTCK.
PINE Distributors LLC is the marketing agent for BTCK and is not affiliated with Teucrium Trading, LLC.
Shares of the Funds are not FDIC Insured, may lose value, and have no bank guarantee.
Check the background of our investment professional’s on FINRA’s BrokerCheck.
TUCRM-5280462-03/26