- SEC postpones decision on 7RCC Spot Bitcoin and Carbon Credit Futures ETF to June 24, 2024.
- The ETF plans to invest 80% in Bitcoin and 20% in financial instruments linked to carbon credit futures.
- Gemini has been named custodian of the ETF.
The United States Securities and Exchange Commission (SEC) has announced a delay in its decision regarding the 7RCC Spot Bitcoin and Carbon Credit Futures ETF, a proposed exchange-traded fund focused on carbon credit futures contracts. Bitcoin (BTC),
The delay was announced in a filed Made on Thursday and it extends the deadline for the US SEC to evaluate the proposed exchange-traded fund to June 24, 2024.
During the extended timeline, the SEC aims to thoroughly review the proposal before making a final decision, citing the need for sufficient time to consider the potential impacts of the proposed rule change.
7RCC Spot Bitcoin and Carbon Credit Futures ETF
The 7RCC Spot Bitcoin and Carbon Credit Futures ETF plans to allocate 80% of its assets to Bitcoin and the remaining 20% ​​to financial instruments tied to carbon credit futures. This unique investment strategy aims to provide investors with a diversified portfolio that includes both digital assets and environmental sustainability.
The ETF’s approach is in line with the evolving landscape of finance, offering a single-trade solution for those seeking exposure to both innovative technologies and progressive environmental initiatives. Gemini, a leading crypto exchange, has been named as custodian of the ETF, signaling an important partnership in the growing digital asset sector.
News of the postponement reflects the ongoing scrutiny and assessment by regulatory bodies such as the SEC in navigating the intersection of traditional finance and emerging technologies.
As the deadline approaches, stakeholders are anxiously awaiting the SEC’s decision, which will have an impact on the future of investment opportunities in both the digital asset and environmental sectors.
