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SEC delays decision on 7RCC’s eco-friendly spot Bitcoin ETF

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The U.S. SEC has extended its review period on a rule change that would allow the listing of 7RCC’s Spot Bitcoin and Carbon Credit Futures ETF to June 24, 2024.

The United States Securities and Exchange Commission has prolonged its review period on the listing of 7RCC’s carbon-neutral spot Bitcoin exchange-traded fund .its approval or disapproval of the NYSE Arca’s application by June 24, 2024. The first deadline was set for May 10, 2024.) alongside carbon credits, mitigating the digital asset's carbon footprint.

“We want to target that group of institutional investors that need that ESG tick mark,” 7RCC Global co-founder and CEO Rali Perduhova explained when the application was filed.The ETF plans to allocate 80% of its assets to Bitcoin and the remaining 20% to financial instruments, such as swaps, tied to carbon credit futures contracts related to emissions allowances.

 

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