The United States Securities and Exchange Commission (SEC) has extended its evaluation period for 7RCC's carbon-neutral spot Bitcoin exchange-traded fund (ETF). Initially slated for May 10, the commission now aims to conclude its assessment of the NYSE Arca's application by June 24.

This innovative fund seeks to offer investors exposure to Bitcoin while concurrently addressing the digital asset's carbon footprint through the inclusion of carbon credits. The ETF would track Bitcoin's daily price fluctuations alongside carbon credit futures based on the Vinter Bitcoin Carbon Credits Index, with Gemini slated to serve as the custodian of the Bitcoin fund.

7RCC Global's co-founder and CEO, Rali Perduhova, emphasized the ETF's appeal to institutional investors seeking environmental, social, and governance (ESG) considerations. The ETF intends to allocate 80% of its assets to Bitcoin and the remaining 20% to financial instruments tied to carbon credit futures contracts, spanning emissions allowances like those associated with the European Union Emissions Trading System and others.

Carbon credit futures serve as financial derivatives facilitating trading based on anticipated future carbon credit values, enabling strategic management of carbon regulatory risks and support for environmentally conscious investment strategies. Despite the SEC's approval of 11 spot Bitcoin ETFs since January, investment managers are now eyeing options trading on such ETFs, with applications pending from major exchanges like the New York Stock Exchange, Nasdaq, and Cboe Global Markets.