7RCC has applied to launch a Bitcoin ETF

7RCC has applied to launch a Bitcoin ETF

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by Max Nevskyi

3 years ago

Company 7RCC approached the United States Securities and Exchange Commission (SEC) with a proposal to launch a spot ETF based on Bitcoin and carbon credit futures.

According to the submitted Form S-1, the main goal of the fund is to reflect daily fluctuations in Bitcoin prices and the value of carbon credit futures provided by the Vinter Bitcoin Carbon Credits Index. This index aims to track the performance of investments in a portfolio that consists of 80% Bitcoin (digital gold) and 20% carbon credit futures.

The application mentions that Gemini will be responsible for storing the ETF's assets. It also emphasizes that this new financial product will offer investors the opportunity to diversify their portfolios by combining the innovative nature of Bitcoin with the advanced segment of carbon credit futures.

Bloomberg analyst James Seyffart previously expressed the opinion that the SEC might start mass approval of Bitcoin ETF applications as early as January.

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