Posted 12/19/2023, 12:15:00 AM
New ESG-Focused Bitcoin ETF Entrant Files Late But With Novel Approach
- 7RCC is a small, new crypto asset manager focused on ESG investing that is entering the bitcoin ETF race very late compared to other applicants
- 7RCC started the ETF application process 18 months ago but waited until it had the right infrastructure in place to file
- The proposed ETF would consist of 80% bitcoin and 20% carbon credits futures, providing an ESG angle
- Crypto exchange Gemini will provide custody for the bitcoin portion
- Expectations for SEC approval of a bitcoin ETF have grown recently due to increased engagement and a court ruling asking the SEC to review a rejection