Breaking News: ESG-Focused Crypto Asset Manager Joins The Bitcoin ETF Race

Founded in 2021, 7RCC targets ESG-minded investors seeking access to crypto assets. Despite starting its ETF process 18 months ago, it waited for the right infrastructure before applying, entering the race later than competitors like Ark 21Shares, Grayscale, and BlackRock, as per its CEO’s statement to CoinDesk.

“We were trying to position ourselves to be part of that first batch, but clearly that didn’t work out,” CEO Rali Perduhova said in an interview.

The 7RCC crypto ETF stands out by allocating 80% to Bitcoin and the rest to carbon credits futures. Gemini, a crypto exchange, will manage custody for the fund’s Bitcoin holdings, stated Perduhova.

While the filing didn’t specify the custodian for cash and equivalent assets.

In a press release, Gemini said the ETF would let investors balance “the innovative nature of Bitcoin with the progressive realm of Carbon Credit Futures. In doing so, the Fund provides investors with an integrated single-trade approach to digital assets and environmental sustainability.”

Anticipation for SEC approval of a spot Bitcoin ETF has surged lately. Industry experts note heightened regulator involvement with issuers and a court ruling mandating the agency to review an ETF rejection order, fostering these expectations.