The U.S. Securities and Exchange Commission has postponed its deadline to decide whether to approve or reject a proposal combining carbon emissions futures with physical bitcoin.
The SEC announced it was postponing its decision until November 21. 7RCC Spot Bitcoin and Carbon Credit Futures ETFat filing Posted on Tuesday.
The SEC stated, “The Commission believes it is appropriate to provide a longer period of time to issue an order approving or disapproving a proposed rule change to allow sufficient time to consider the proposed rule change and any comments received with respect to the proposed rule change.”
The fund proposed by cryptocurrency asset manager 7RCC plans to invest 80% of its assets in bitcoin and 20% in “financial instruments, including swap contracts that provide exposure to index-represented carbon credit futures.” filing In March, 7RCC also announced plans to appoint Gemini as the fund’s Bitcoin custodian.
The S-1 registration report has been completed. contaminated In December 2023, about a month before the SEC announced the launch of a spot Bitcoin and carbon emissions futures ETF. Approved 11 Spot Bitcoin ETFs.
The proposed ETF received 1. comment This is a comment from James D. Millas, a 2026 student at Loyola University Chicago. Millas’ comment focused on carbon credits and urged the SEC to “continue its efforts to mitigate the negative impacts of carbon credit companies.”
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About the Author
Sarah is a reporter covering policy, regulation, and legal issues for The Block. Previously, Sarah was a securities regulation reporter at CQ Legal, where she first began reporting on cryptocurrencies. Sarah has also written for other financial publications, including The Bond Buyer and American Banker. She graduated from the University of Missouri with a degree in print and digital journalism. Sarah lives in Washington, D.C., and is an avid coffee drinker. You can follow her on Twitter @ForTheWynn.