SEC Delays Decision on 7RCC Spot Bitcoin and Carbon Credit Futures ETF

SEC Extends 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 carbon futures credit-linked financial instruments. Gemini has been called the guardian of ETFs.

The United States Securities and Exchange Commission (SEC) has announced a delay in its decision on the 7RCC Spot Bitcoin and Carbon Credit Futures ETF, an exchange-traded fund focused on carbon credit futures contracts and bitcoin (BTC).

The delay was disclosed in a filing on Thursday and extends the timeline for the US SEC to review the proposed transaction until June 24, 2024.

Under 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 impact 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 linked 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 approach is aligned with the financial landscape, providing a single-trade solution for those seeking exposure to both innovative technologies and progressive environmental initiatives. Gemini, a leading crypto exchange, has been named an ETF custodian, marking a significant partnership in the growing digital asset space.

News of the extension reflects ongoing scrutiny and review by regulatory bodies such as the SEC as they navigate the intersection of traditional finance and new technologies.

As the deadline approaches, stakeholders eagerly await the SEC's decision, which will have implications for future investment opportunities in the digital asset and environmental sectors.