Green Crypto Alert: An Eco-Friendly Bitcoin ETF Is Coming!

Last Updated on March 14, 2024

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Key Takeaways:

  • The New York Stock Exchange has officially applied to the SEC to list shares of 7RCC’s innovative spot Bitcoin ETF, which combines Bitcoin investment with carbon credit futures, marking a significant move towards sustainable cryptocurrency investing.
  • With an investment strategy that includes 80% in Bitcoin and 20% in carbon credit futures, 7RCC’s ETF targets institutional investors looking for environmentally and socially responsible investment options.
  • Rali Perduhova, the CEO of 7RCC, predicts that Bitcoin prices could reach $200,000 by the end of the year, driven by the approval of spot Bitcoin ETFs and an anticipated shift in global adoption and narrative.

The New York Stock Exchange (NYSE) recently notified the Securities and Exchange Commission (SEC) about its plan to list and trade shares of 7RCC’s pioneering spot Bitcoin ETF, which also includes Carbon Credit Futures. This move signals a significant advancement in 7RCC’s effort to launch an eco-friendly Bitcoin investment product in the U.S., potentially broadening the landscape for Bitcoin ETF options.

On March 13, the NYSE filed a 19b-4 form, a necessary step for the exchange to list shares of 7RCC’s innovative Bitcoin ETF that pairs the digital currency with carbon credit futures.

This submission follows 7RCC’s December S-1 application with the SEC under the ticker BTCK, aiming to offer investors a combination of Bitcoin exposure and carbon credits, aligning with growing interest in environmentally sustainable investing.

SEC form 19b-4
Excerpt from SEC form 19b-4. Source:

The ETF’s goal is to mirror daily shifts in Bitcoin prices and the value of carbon credit futures, as defined by the Vinter Bitcoin Carbon Credits Index. The Index’s strategy integrates Bitcoin investments with a commitment to environmental responsibility by compensating for carbon emissions, though specific updates from 7RCC have been sparse since the initial filing.

This latest submission, a “proposed rule change” filing, is critical within the SEC’s approval framework, necessitating consent from the regulatory body before the new product can hit the market.

Green crypto

Rali Perduhova, co-founder and CEO of 7RCC Global, has expressed the company’s aim to cater to institutional investors seeking investments that comply with Environmental, Social, and Governance (ESG) criteria.

The proposed ETF plans to allocate 80% of its assets to Bitcoin and the remaining 20% to instruments like swaps, which offer exposure to carbon credit futures connected to emissions allowances from major emissions trading systems.

Perduhova also shared optimistic views on Bitcoin’s price trajectory, suggesting it could soar to $200,000 or more by year’s end, influenced partly by the anticipated approval of spot Bitcoin ETFs. She highlighted these approvals as transformative, potentially catalyzing broader asset adoption in the U.S. and altering the global narrative around Bitcoin.

With the upcoming Bitcoin halving, which will reduce the daily mined supply while demand continues to surge, the anticipation around Bitcoin’s price and its integration into eco-conscious investment strategies is growing.

Gemini crypto exchange has been appointed as the custodian for 7RCC’s Bitcoin and Carbon Credit Futures ETF, marking a step forward in the integration of digital assets with sustainability efforts.

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Victor Fawole, a seasoned Web3 content creator and social media influencer, excels in bringing the pulse of the crypto world to our readers.

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