SEC Delays Decision on Eco-Friendly Bitcoin ETF Until November

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Background
  2. Fund Portfolio Composition
  3. Future of Eco-Friendly ETFs


    4. The United States Securities and Exchange Commission (SEC) once again delayed a final decision on New York Stock Exchange (NYSE) Arca’s request to list an exchange-traded fund (ETF) combining spot Bitcoin and carbon-credit futures.

    Background

    The SEC previously delayed a decision on the proposed ETF in May. The deadline for a final decision has now been pushed to November 21. Tidal Investments, the ETF’s issuer, filed the fund’s S-1 registration in December 2023, and NYSE Arca filed its initial 19b-4 request in March.

    Fund Portfolio Composition

    The 7RCC Spot Bitcoin and Carbon Credit Futures ETF aims to provide exposure to Bitcoin with an environmentally responsible approach by offsetting carbon emissions. The fund is designed to track the performance of a portfolio comprised of 80% Bitcoin and 20% Carbon Credit Futures, according to the March filing.

    Future of Eco-Friendly ETFs

    According to the International Monetary Fund, cryptocurrency mining combined with data centers accounts for approximately 1% of global greenhouse gas emissions. These figures might be partly mitigated as a result of April’s Bitcoin halving. Additionally, carbon credit futures are contracts on emissions allowances issued by various cap-and-trade regulatory regimes that seek to reduce greenhouse gases over time. The ETF’s futures will track the value of emissions allowances under cap-and-trade regimes in the European Union and California, among other jurisdictions.

    In August, the SEC delayed a decision on whether an exchange-traded fund designed as a one-stop-shop crypto portfolio can be listed on Nasdaq’s electronic securities exchange. The delay was in response to Nasdaq’s June request for permission to list the Hashdex Nasdaq Crypto Index ETF on its electronic exchange.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

MEXC Launches 'Trading Takes Two' Campaign to Showcase AI Capabilities

MEXC is launching a month-long campaign titled 'Trading Takes Two' to showcase how MEXC AI supports users in their trading journey.

user avatarTenzin Dorje

HTX Research Highlights Risks in Stock-Linked Memecoins

HTX Research's report highlights the risks of stock-linked memecoins, focusing on misleading high APY figures and the importance of understanding market conditions.

user avatarBayarjavkhlan Ganbaatar

HTX Research Unveils Insights on Stock-Linked Memecoins

HTX Research has released a report on stock-linked memecoins, analyzing their market structure and growth potential.

user avatarMohamed Farouk

BAI Builds Closed-Loop Infrastructure for the Agent Economy

BAI is building a closed financial loop for the agent economy, integrating models and agents to facilitate seamless transactions.

user avatarDiego Alvarez

BAI Sets New Industry Record with 151 Trillion Tokens Daily Throughput

BAI has set a new industry record with a daily throughput of over 151 trillion tokens, marking a significant increase since its launch.

user avatarElias Mukuru

Justin Sun Prize Launched to Transform Scientific Research

The Justin Sun Prize has been established to redefine scientific rewards in the AI era, offering up to $1 million for breakthroughs in fundamental disciplines and machine formal verification.

user avatarKenji Takahashi

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.