7RCC's CEO, Rali Perduhova, stated that the proposal aims to attract institutional investors who prioritize ESG considerations, responding to the negative narratives surrounding Bitcoin mining's carbon footprint. ESG investing has gained traction as a socially conscious approach, with a growing number of institutional investors planning to increase allocations to ESG products.
The proposed ETF, named BTCK, would consist of 80% spot Bitcoin and 20% carbon credit futures, creating a carbon-neutral trading strategy. Despite the ongoing debate regarding the mechanism for authorized participants to create and redeem the ETF shares, 7RCC has chosen Gemini as custodian and is utilizing Tidal as the financial platform for the ETF.
7RCC's Spot Bitcoin and Carbon Credit Futures ETF marks the firm's first offering, with the project being supported by senior advisor Matthew Homer, an experienced figure in digital asset-focused ventures. This initiative reflects the current focus on ESG considerations and the growing interest in capturing ESG-related funds.
7RCC has applied for a new type of Bitcoin ETF that includes carbon credits, providing an option for ESG investors concerned with Bitcoin's environmental impact. The proposal aims to attract institutional investors seeking ESG considerations and offers a carbon-neutral trading strategy comprising spot Bitcoin and carbon credit futures. This initiative reflects the increasing focus on ESG in investing and the growing interest in capturing ESG-related funds.