Carbon Credit

Bitcoin ETF

Gary

James

<div class="cryptonews">
 <p class="is-style-lead">A firm specializing in environmental investments, 7RCC, has applied to open a spot Bitcoin (BTC) ETF.</p>
 <p>7RCC filed an application to the Securities and Exchange Commission (SEC) to create an ETF, centered around environmental, social, and governance (ESG) principles. 7RCC’s ETF aims to establish a <a rel="noopener noreferrer nofollow" title="carbon" href="https://thebittimes.com/tag/carbon.html">carbon</a>-neutral investment option in the cryptocurrency market, comprising 80% BTC and 20% <a rel="noopener noreferrer nofollow" title="carbon" href="https://thebittimes.com/tag/carbon.html">carbon</a> <a rel="noopener noreferrer nofollow" title="credit" href="https://thebittimes.com/tag/credit.html">credit</a> <a rel="noopener noreferrer nofollow" title="futures" href="https://thebittimes.com/tag/futures.html">futures</a>.</p>
 <p>Creating an ETF was initiated 18 months ago, awaiting the right market and regulatory conditions to submit the application. Cryptocurrency exchange Gemini will provide custody of the fund’s BTC, giving investors an integrated approach to digital assets and environmental sustainability.</p>
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 <p>Industry analysts such as Nate Geraci have expressed enthusiasm for the filing. Geraci acknowledged the inevitability of a Bitcoin “ESG” ETF and expected to see further changes to spot Bitcoin ETFs.</p>
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    <p lang="en" dir="ltr">New filing: 7RCC Spot Bitcoin &amp; Carbon Credit Futures ETF…<br><br>Holds 80% bitcoin &amp; 20% <a rel="noopener noreferrer nofollow" title="carbon" href="https://thebittimes.com/tag/carbon.html">carbon</a> <a rel="noopener noreferrer nofollow" title="credit" href="https://thebittimes.com/tag/credit.html">credit</a> <a rel="noopener noreferrer nofollow" title="futures" href="https://thebittimes.com/tag/futures.html">futures</a>.<br><br>Was only a matter of time before we got an “ESG” bitcoin ETF.<br><br>We’re gonna see all types of permutations on spot bitcoin ETFs. pic.twitter.com/yeIyEGaGyf</p>— Nate Geraci (@NateGeraci) December 18, 2023
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 <p>However, despite this optimism, debate continues about the practicality and regulatory acceptance of such a hybrid crypto investment vehicle.</p>
 <p>Meanwhile, the SEC is reviewing its approach&nbsp;to spot Bitcoin ETFs following “court rulings.” The head of the regulator, Gary Gensler, said that the Comission is currently studying between 8 and 12 applications.</p>
 <p>Bloomberg analyst James Seyffart believes the SEC will approve the first spot Bitcoin ETFs in January 2024. In his opinion, the SEC strategically delayed applications for the instrument to approve most of them simultaneously, thereby not giving an advantage to one of the issuers.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/7rcc-applies-for-spot-bitcoin-etf-with-20-allocated-to-carbon-credit-futures-tbt74135.html">https://thebittimes.com/7rcc-applies-for-spot-bitcoin-etf-with-20-allocated-to-carbon-credit-futures-tbt74135.html</a></p>

7RCC applies for spot Bitcoin ETF with 20% allocated to carbon credit futures

TheBitTimes

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