Crypto firm 7RCC applies for spot Bitcoin ETF with an eco-friendly twist
The SEC filing for the 7RCC spot Bitcoin ETF highlighted that it will include 80% Bitcoin and 20% Carbon Credits Futures.
7RCC Seeks SEC Approval for Groundbreaking ESG-Centric Bitcoin ETF with Carbon-Neutral Focus"
In an innovative move within the cryptocurrency sector, 7RCC, a company specializing in ESG-conscious investment solutions, has submitted an application to the United States Securities and Exchange Commission (SEC) for the establishment of a spot Bitcoin exchange-traded fund (ETF) with a unique carbon-neutral investment proposition.
This pioneering ETF aims to cater specifically to investors committed to environmental, social, and governance (ESG) principles. The ETF's portfolio composition will comprise 80% Bitcoin (BTC) and 20% carbon credit futures.
The primary investment objective of this ETF is to mirror the fluctuations in BTC prices and the valuation of carbon credit futures, closely tracking the Vinter Bitcoin Carbon Credits Index. These carbon credit futures are directly linked to the value of emissions allowances issued under prominent environmental schemes, including the European Union Emissions Trading System, the California Carbon Allowance, and the Regional Greenhouse Gas Initiative.
Commenting on this groundbreaking development, Nate Geraci, President of ETF Store, expressed his belief that the emergence of an ESG-focused Bitcoin ETF was inevitable. He further anticipated a proliferation of diverse permutations in the realm of spot Bitcoin ETFs, highlighting the evolving landscape of cryptocurrency investment options.
Gemini Becomes Custodian for 7RCC Bitcoin and Carbon Credit Futures ETF, Pioneering ESG Investment Option"
In a significant move, crypto exchange Gemini, on December 18th, revealed that it has taken on the role of custodian for the 7RCC Bitcoin and Carbon Credit Futures ETF. Gemini highlighted the ETF's potential to enhance portfolio diversification for investors and emphasized the importance of its partnership with 7RCC as a custodian, marking a noteworthy milestone for the Gemini platform.
Additionally, in other cryptocurrency news, BlackRock has made revisions to its Bitcoin ETF filing, and the concept of crypto citizenship in El Salvador is gaining traction, among other developments. Stay informed with Hodler's Digest.
For those interested in entering the crypto space, whether to exchange or buy BTC (Bitcoin), Gemini provides a secure and reputable platform to facilitate cryptocurrency transactions and investments.
Dec 19, 2023