JUST IN: SEC Approves New ETF Featuring Spot Bitcoin
According to breaking news, the SEC has given expedited approval to a new ETF that includes spot Bitcoin and carbon credits.
The U.S. Securities and Exchange Commission (SEC) has granted expedited approval for the listing and trading of the 7RCC Spot Bitcoin and Carbon Credit Futures ETF on the NYSE Arca exchange.
The decision became final on November 15, 2024, after a lengthy review process and paves the way for a new financial product that combines cryptocurrency exposure with a focus on sustainability.
The ETF, filed for trust units under NYSE Arca Rule 8.500-E, first entered the SEC’s review pipeline on March 13, 2024. The proposal underwent numerous changes and extensive due diligence, reflecting the complexity and novelty of combining spot Bitcoin assets with carbon credit futures.
Following public comments and regulatory review, the SEC approved a fourth amendment to the proposal, which enhances the ETF’s operational framework to address potential market and investor risks while ensuring compliance with existing securities laws.
The 7RCC ETF offers a dual-focused investment strategy:
Spot Bitcoin Exposure: Direct access to Bitcoin price movements will allow investors to benefit from the growing mainstream adoption of the cryptocurrency.
Carbon Credit Futures: Investments in carbon credit futures aim to offset the environmental impact of Bitcoin mining and align the product with sustainability goals.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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