The New York Stock Exchange (NYSE) submitted a 19b-4 form on March 13, a significant step towards listing and trading shares of 7RCC’s spot Bitcoin and Carbon Credit Futures ETF in the United States.
7RCC aims to launch the ETF, known as BTCK, to provide investors exposure to Bitcoin alongside carbon credits. The fund seeks to reflect daily changes in the price of Bitcoin and the value of carbon credit futures contracts.
The ETF intends to offset carbon emissions associated with Bitcoin by investing 80% of its assets in Bitcoin and 20% in financial instruments like swaps linked to carbon credit futures contracts. These contracts are tied to emissions allowances issued under various trading systems.
7RCC’s CEO, Rali Perduhova, stated that the ETF targets institutional investors who prioritize environmental, social, and governance (ESG) factors. The inclusion of carbon credits aligns with investors seeking an ESG-compliant investment.
Perduhova predicts Bitcoin prices to surpass $200,000 by the year-end, citing the recent approvals of spot Bitcoin ETFs as a catalyst for broader adoption. Despite the upcoming halving reducing daily supply, demand for Bitcoin remains high.
Gemini crypto exchange has been selected as the custodian for the 7RCC Bitcoin and Carbon Credit Futures ETF, ensuring secure storage of assets.
7RCC’s filing of the 19b-4 form marks progress towards launching an environmentally-conscious Bitcoin ETF, catering to investors interested in ESG-focused investments. If approved by the SEC, the ETF could offer a unique investment opportunity combining exposure to Bitcoin with carbon credits.
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