The company 7RCC has filed a request with the United States Securities and Exchange Commission (SEC) to launch an environmentally-focused Bitcoin ETF. Specializing in solutions for investors committed to environmental, social, and corporate governance (ESG) principles, 7RCC aims to provide a carbon-neutral investment option in the cryptocurrency space.
The proposed ETF has a unique composition, with 80% in Bitcoin and 20% in carbon credit futures. This approach reflects the intention to address environmental concerns by actively incorporating carbon credit futures into the ETF’s portfolio. The initiative underscores the growing relevance and adoption of ESG considerations in the investment landscape and the need for solutions that address environmental concerns.
New filing: 7RCC Spot Bitcoin & Carbon Credit Futures ETF…
Holds 80% bitcoin & 20% carbon credit futures.
Was only a matter of time before we got an “ESG” bitcoin ETF.
We’re gonna see all types of permutations on spot bitcoin ETFs. pic.twitter.com/yeIyEGaGyf
— Nate Geraci (@NateGeraci) December 18, 2023
7RCC Combines Bitcoin and Environmentalism to Attract Eco-Conscious Investors
The goal of 7RCC’s ETF is to cater to investors who adhere to ESG principles, aligning investments with sustainable and responsible values. The proposal includes tracking changes in Bitcoin prices and the value of carbon credit futures, using the Vinter Bitcoin Carbon Credit Index as a reference. These futures link to the value of emission allowances issued under systems such as the European Union Emissions Trading System and the Regional Greenhouse Gas Initiative.
Nate Geraci, President of ETF Store, commented on this development, indicating that the arrival of an ESG-focused Bitcoin ETF was inevitable, and various variations in spot Bitcoin ETFs are expected. His observation highlights the increasing diversity of approaches within the industry, with sustainability and social responsibility emerging as central themes.
In collaboration, the Gemini exchange has announced that it will act as the custodian for the 7RCC Bitcoin and Carbon Credit Futures ETF. The choice of Gemini as a custodian underscores the importance of having a reliable partner in the custody of digital assets, providing security and support to investors interested in participating in this innovative product.
7RCC’s environmentally-focused application represents a significant step towards integrating environmental practices into the cryptocurrency space, offering investors an option aligned with eco-friendly principles and paving the way for new forms of responsible participation in the market.
