NYSE Proposes Listing 7RCC’s Environmentally-Conscious Bitcoin ETF

NYSE filed on Wednesday to propose the listing and trading of shares for the 7RCC spot Bitcoin and Carbon Credit Futures ETF.

NYSE notifies US SEC to list 7RCC’s environmentally friendly Bitcoin ETFs.

Last updated: March 14, 2024 12:15 EDT | 1 min read

The New York Stock Exchange (NYSE) has made a bold proposal to the US Securities and Exchange Commission (SEC) – a listing of 7RCC’s environmentally-conscious spot Bitcoin ETF. If approved, this ETF will revolutionize the crypto asset market and align it with environmental sustainability goals.

The Innovative Blend of Bitcoin and Carbon Credits

7RCC, a leading crypto asset manager, has taken the initiative to create a carbon-neutral, ESG-focused spot Bitcoin exchange traded fund. The ETF will consist of 80% Bitcoin and the remaining 20% will be allocated to carbon credits futures. This unique combination will allow investors to not only gain exposure to the potential of Bitcoin but also contribute to carbon reduction efforts.

A Significant Step forward for 7RCC

7RCC filed an application with the US SEC in December 2023, and now, with NYSE’s filing proposal to list and trade shares of the 7RCC spot Bitcoin and Carbon Credit Futures ETF, it seems that the journey to approval is well underway. This move places 7RCC in the competitive landscape of spot Bitcoin ETFs.

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The Potential for Exciting Growth

Rali Perduhova, co-founder and CEO of 7RCC, expressed her positive outlook on the future of the asset class. In a recent interview with Bloomberg, she shared her optimism about the price of Bitcoin, predicting that it could reach $200,000 by the end of the year. Perduhova also highlighted the upcoming Bitcoin halving, which will reduce the daily supply from 900 BTC to 450 BTC. This anticipated scarcity could further drive the price of Bitcoin upwards.

Gemini Steps In to Facilitate Custody

To further bolster the ETF’s credibility and accessibility, leading cryptocurrency exchange Gemini announced its plan to custody the 7RCC Bitcoin and carbon credits futures ETF. Through this partnership, investors will have a seamless and secure platform to trade and hold these innovative assets, balancing the potential of Bitcoin with the progressive realm of Carbon Credit Futures.

Additional Questions & Answers

Q: What are carbon credits?

Carbon credits are financial instruments that represent a quantified reduction in greenhouse gas emissions. They are typically granted to companies or organizations that actively participate in initiatives to mitigate their environmental impact. These credits can then be bought, sold, or traded on various platforms.

Q: How will the inclusion of carbon credits impact the performance of the ETF?

The addition of carbon credits to the ETF aims to create a more holistic investment opportunity. The value of the carbon credits futures will be influenced by the demand for emissions allowances issued under regulatory frameworks, in addition to other market factors. This diversified approach introduces another layer of potential returns and aligns the ETF with sustainable investing principles.

Q: What is the significance of NYSE’s proposal to list the 7RCC Bitcoin ETF?

The NYSE’s proposal signifies a growing acceptance and recognition of the importance of Bitcoin and cryptocurrencies in mainstream finance. By considering the listing of a Bitcoin ETF with a unique environmental focus, the NYSE is embracing innovation, sustainability, and the potential for significant market growth in the digital asset space.

Future Outlook and Investment Recommendations

Based on the current trends and developments in the crypto market, it is clear that the demand for Bitcoin and other digital assets is on the rise. The proposed 7RCC Bitcoin and Carbon Credit Futures ETF presents an exciting opportunity for investors to not only tap into the potential of Bitcoin but also contribute to the fight against climate change. With the increasing adoption of sustainable investing practices, this ETF could attract significant interest and potentially offer attractive returns.

It is important to note that investing in digital assets carries inherent risks, and individuals should research and assess their risk tolerance before making any investment decisions. Consulting with a financial advisor is also recommended to fully understand the potential benefits and risks associated with investing in the 7RCC Bitcoin ETF.

References

• Bitcoin Needs to Address Scaling Before ETFs Drive Momentum
• 7RCC Filed an Application with the US SEC
• NYSE Filing Proposal
• Spot Bitcoin ETFs Approved: Here’s How Crypto Executives Reacted
• Gemini Approved to Operate in France

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