TechFlow news, the U.S. Securities and Exchange Commission (SEC) has announced an extension of the review period for a proposal combining carbon credit futures and spot bitcoin products. The SEC has postponed its decision on 7RCC's spot bitcoin and carbon credit futures ETF to November 21, stating it needs additional time to evaluate the proposal and related public comments.
According to documents from March, cryptocurrency asset management firm 7RCC plans for the fund to allocate 80% of its assets to bitcoin and 20% to "financial instruments providing exposure to a carbon credit futures index, including swap agreements." 7RCC also intends to appoint Gemini as the custodian for the fund's bitcoin holdings. The S-1 registration statement for this ETF was initially filed in December 2023, about one month before the SEC approved 11 spot bitcoin ETFs.
