An ETF manager has filed for the first Venezuela-focused fund days after the surprise US raid

• Teucrium has filed for an ETF that offers investors exposure to Venezuela.

• The fund, which will track the MarketVector Venezuela Exposure Index, was introduced in a filing on Monday.

• The CEO of Teucrium told Business Insider that the ETF had been in the works before the US raid on Venezuela.

Just a few days after the US captured the president of Venezuela in a surprise raid that’s likely to reshape the country, an ETF manager has filed for a fund to offer investors exposure to its markets.

Teucrium, a firm that offers investment funds related to agriculture and crypto, filed documentation with the Securities and Exchange Commission for the Teucrium Venezuela Exposure ETF. It would be the first-ever country-specific fund targeting investments in Venezuela.

The ETF, which doesn’t yet have a ticker or an established fee structure, is looking to track the MarketVector Venezuela Exposure Index. The index tracks firms that derive 50% or more of their total revenue from operations in Venezuela and have 50% or more of their assets located in the country.

The prospectus flagged several risks of investing in the fund, including the risk that Venezuela’s oil and gas sector is impacted by geopolitics.

Sal Gilbertie, the CEO of Teucrium, told Business Insider that the firm had been working on creating the ETF prior to the events over the weekend, but said he couldn’t disclose any further information about the fund.

The events that unfolded in Venezuela rippled through markets, with moves in stocks, gold, the dollar, and oil. Stock investors largely dismissed the potential for further conflict, while energy markets tried to make sense of what it could mean for the future of global crude flows.

For now, there has been little further market movement following the news. Energy markets moved only slightly as any impact on the country’s oil output is still likely years away.

In the US, the Dow hit a new record as investors saw the potential for US-based oil and energy firms to gain from the situation.

In Venezuela, the IBC Index, the main index of the nation’s Caracas Stock Exchange, surged 17% on Monday.

Read the original article on Business Insider