Crypto firm 7RCC implements a spot Bitcoin ETF with an eco-friendly twist.

7RCC, “a company specialized in developing solutions for ESG-conscious investors” has applied to acquire a Bitcoin ETF position that offers a carbon-neutral investment option in the crypto space.

According to a filing with the United States Securities and Exchange Commission (SEC), the ETF focuses on offering investors that adhere to environmental, social and governance (ESG) principles. For this reason, the ETF will be 80% Bitcoin (BTC) and 20% carbon credit futures.

The company also said the ETF's investment objective is to reflect changes in BTC prices and the future value of carbon credits represented by the Vinter Bitcoin Carbon Credit Index. Carbon credit futures are linked to the price of emission allowances issued by the EU's emissions trading system, California's carbon allowances and regional greenhouse gas initiatives.

New File: 7RCC Spot Bitcoin and Carbon Credit Futures ETF…

It contains 80% bitcoin and 20% carbon credit futures.

It was a while before we had an “ESG” bitcoin ETF.

We see all kinds of exchanges in the space of bitcoin ETFs. pic.twitter.com/yeIyEGaGyf

— Nate Geraci (@NateGeraci) December 18, 2023

Commenting on the development, ETF Store President Nate Geraci said that “it's only a matter of time” before an ESG Bitcoin ETF appears. Geraci predicted that there will be “all kinds of exchanges” when it comes to identifying bitcoin ETFs.

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On December 18, crypto exchange Gemini announced that it will be the custodian of the 7RCC Bitcoin and Carbon Credit Futures ETF. Gemini said the fund will provide investors with an opportunity to grow their portfolios and supporting 7RCC as the fund's custodian is an important development for the platform.

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