7RCC Launches Innovative Bitcoin ETF with Carbon Credit Component

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A green leap forward in the crypto space! 7RCC’s new Bitcoin ETF with a 20% carbon credit component is pioneering a path to sustainability. It’s not just about financial growth, but also about investing in our planet’s future. After waiting for 18 months, they are ready for the ETF ride. 7RCC, a crypto asset management firm targeting ESG investors, applied for an SEC spot-bitcoin and carbon credits futures ETF. 

While crypto is celebrating a fresh move, Bitcoin is on the verge of falling to $40,000. In contrast, Bitcoin’s price analysis suggests a drop to cover the Fair Value Gap. Once the gap is closed, BTC might rise again, targeting $43,000 from last week.

7RCC’s Unique Approach to a Bitcoin ETF

7RCC, a crypto asset management firm specializing in environmental, social, and governance (ESG) investments, has entered the race for a spot Bitcoin exchange-traded fund (ETF), distinguishing its proposal with a unique approach—integrating carbon credits into its investment strategy. Established in 2021, 7RCC has meticulously prepared to file its ETF application, strategically waiting until now to ensure its readiness, contrasting with industry giants like Ark 21Shares and Grayscale.

CEO Calls for a Jump in ESG Investing and Institutional Interest

Rali Perduhova, CEO of 7RCC Global, underscored the venture’s vision, recognizing Bitcoin mining’s negative environmental impact. To address these concerns, the firm is focusing on attracting institutional investors committed to ESG principles. The proposed ETF, likely named BTCK, comprises 80% spot Bitcoin and 20% carbon credit futures—a pioneering attempt to create a carbon-neutral investment vehicle in the crypto market. Partnering with Gemini as a custodian and utilizing Tidal as its financial platform, 7RCC aims to solidify its position in this niche segment.

ESG investing, emphasizing environmental, social, and governance aspects, has surged in popularity. Despite regulatory debates, institutions are increasingly inclined towards ESG strategies. A 2022 Harvard survey suggested that 81% of U.S. institutional investors intend to boost allocations to ESG products by 2026.

Mixed Reactions Within the Crypto Community 

Within the crypto community, reactions to 7RCC’s proposal have been mixed. Some applaud the effort, viewing it as a much-needed step towards merging crypto investments with sustainable practices. Others remain skeptical, highlighting potential complexities and challenges in implementing an ESG-centric crypto product.

Notably, industry analysts like Nate Geraci have expressed enthusiasm for the filing. Geraci acknowledged the inevitability of an “ESG” Bitcoin ETF and anticipated seeing further variations in spot Bitcoin ETFs. However, despite this optimism, debates linger about the practicality and regulatory reception of such a hybrid crypto investment vehicle.

New filing: 7RCC Spot Bitcoin & Carbon Credit Futures ETF…

Holds 80% bitcoin & 20% carbon credit futures.

Was only a matter of time before we got an “ESG” bitcoin ETF.

We’re gonna see all types of permutations on spot bitcoin ETFs. pic.twitter.com/yeIyEGaGyf

— Nate Geraci (@NateGeraci) December 18, 2023

7RCC’s innovative blend of Bitcoin and carbon credits aims to cater to the growing demand for environmentally conscious crypto investments. While its proposal has sparked interest and debate within the crypto sphere, the fate of an ESG-focused Bitcoin ETF remains contingent on regulatory approvals and broader market acceptance.