7RCC Will Soon Launch its ECO Spot Bitcoin ETF
Crypto company 7RCC has made strides towards launching their eco-friendly spot Bitcoin ETF in the United States, potentially expanding options for investors interested in Bitcoin ETFs.
On March 13, the New York Stock Exchange submitted a 19b-4 form, which is needed for the listing and trading of shares of 7RCC’s spot Bitcoin and Carbon Credit Futures ETF.
In December, 7RCC filed an S-1 application with the SEC for the Bitcoin ETF under the ticker BTCK, which aims to offer exposure to the digital asset along with carbon credits.
The fund’s goal is to track the daily fluctuations in BTC price and the value of carbon credit futures contracts, as represented by the Vinter Bitcoin Carbon Credits Index.
According to the initial filing, the index aims to provide “environmentally responsible” exposure to Bitcoin by offsetting carbon emissions.
However, there have been minimal updates from the company on its progress since then.
