7RCC Proposes a Bitcoin ETF with a Unique Approach
A crypto asset management firm, 7RCC, specializing in ESG investments, introduces a unique Bitcoin exchange-traded fund (ETF) proposal that includes carbon credits in its investment strategy. Waiting 18 months to ensure readiness, 7RCC’s application has now been filed, setting it apart from larger companies like Ark 21Shares and Grayscale.
CEO Calls for Increased ESG Investing and Institutional Interest
Rali Perduhova, CEO of 7RCC Global, emphasizes the negative environmental impact of Bitcoin mining. To address these concerns, the firm aims to attract 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.
Mixed Reactions Within the Crypto Community
There are mixed reactions to 7RCC’s proposal within the crypto community. Some see it as a necessary step towards merging crypto investments with sustainable practices, while others remain skeptical, highlighting potential complexities and challenges in implementing an ESG-centric crypto product.
7RCC’s Unique Blend of Bitcoin and Carbon Credits
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.
Hot Take
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 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 a SEC spot-bitcoin and carbon credits futures ETF.
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