The United States Securities and Exchange Commission (SEC) has extended the review period for 7RCC’s Bitcoin exchange-traded fund (ETF) listing, creating anticipation in the crypto community. This news comes as a significant development in the world of cryptocurrency investments, with the final decision on the application submitted by NYSE Arca now expected by June 24, 2024.
7RCC Global has introduced a unique carbon-neutral spot Bitcoin ETF, aiming to provide investors with exposure to Bitcoin while also addressing environmental concerns through the integration of carbon credits. This innovative approach will allocate 80% of the ETF to Bitcoin and 20% to carbon credit futures, positioning it as the first environmentally-focused ETF in the market.
To facilitate the establishment and growth of the proposed ETF, Tidal Financial Group has partnered with 7RCC, while Gemini, a reputable cryptocurrency exchange, has been chosen as the custodian for the 7RCC Spot Bitcoin and Carbon Credit Futures ETF.
The SEC’s decision to extend the review period reflects the need for thorough analysis of the potential benefits and risks associated with the 7RCC Bitcoin ETF, highlighting the commission’s commitment to investor protection and market integrity. If approved, the 7RCC Bitcoin ETF will offer investors a regulated and convenient way to invest in Bitcoin, a rapidly growing digital asset.
By including carbon credits in its investment strategy, the ETF aims to address environmental concerns related to Bitcoin mining, attracting environmentally-conscious investors. Furthermore, the involvement of established entities like NYSE Arca, Tidal Financial Group, and Gemini adds credibility to both the proposed ETF and the overall cryptocurrency market.
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[Image source: Shutterstock]
– Author: Extreme Investor Network
Tags: Cryptocurrency, Blockchain, Bitcoin, ETF, SEC, 7RCC, Gemini, NYSE Arca, Tidal Financial Group, Carbon Credits
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