Venezuela-Linked ETF Application Poses Thorny Choice for SEC

The SEC is grappling with a potential investment vehicle tied to Venezuelan stocks and companies that do business in the country, after the sudden ouster of President Nicolás Maduro left some US investors eager to seize on new opportunities in the long-sanctioned nation.

Teucrium Trading LLC, a Vermont-based ETF sponsor focused on agricultural commodity and cryptocurrency investments, filed an application with the Securities and Exchange Commission this week for a “Venezuela Exposure” fund. The firm is seeking to track an index comprising Venezuela-based companies, as well as firms that derive more than half their assets or revenue from the country. ...