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

Bitcoin Core Updates Security Disclosure Policy Amid AI Vulnerability Discoveries

Bitcoin Core has updated its security disclosure policy to accelerate the reporting of vulnerabilities discovered through AI tools.

user avatarRajesh Kumar

Bitcoin Core Developers Release Security Updates Following AI Discovery

Bitcoin Core developers have released security updates after an AI-powered code scan revealed three vulnerabilities, including a critical one that could crash nodes on Windows and macOS.

user avatarMiguel Rodriguez

CF Benchmarks Introduces CFB Oracle to Enhance On-Chain Price Integrity

CF Benchmarks has launched CFB Oracle, a service providing cryptographically signed index information for applications on Ethereum mainnet, HyperEVM, and Robinhood Chain.

user avatarLuis Flores

SEC Proposes New Custody Framework for Crypto Assets

The SEC has proposed a new custody framework for investment advisers and registered funds dealing with crypto assets, allowing for potential self-custody and the use of state trust companies as custodians.

user avatarArif Mukhtar

FINMA Approves First Swiss Retail Bitcoin ETF

Switzerland's financial regulator, FINMA, has approved its first retail ETF that invests directly in Bitcoin, allowing retail investors to gain regulated exposure to Bitcoin.

user avatarMaria Gutierrez

EIP7906 Proposal Considered for Enhancing Ethereum Transaction Safety

The Ethereum Foundation is considering EIP7906, which proposes a readonly post-transaction frame to evaluate changes and events before accepting transaction outcomes.

user avatarDavid Robinson

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.