Compliance arbitrage under ETF wrapping: wanting to benefit from the growth dividends of crypto exchanges but afraid of crossing regulatory lines, so using stocks as a filter. Waiting for the SEC approval to land.

ME News reports that on May 16, SEC documents show that Tema ETF Trust submitted a registration amendment, proposing to launch the Tema Trading & Prediction Markets ETF. This is an actively managed fund, planning to invest at least 80% of its net assets in publicly traded companies related to trading and prediction markets, covering financial exchanges, event contracts and prediction markets, cryptocurrency exchanges, and financial data companies. The fund does not directly invest in cryptocurrencies but can gain indirect exposure through related companies. It is still in the preliminary prospectus stage, and the SEC has not approved or rejected it.