The Securities and Exchange Commission (SEC) has approved the listing and trading of shares of the 7RCC Spot Bitcoin and Carbon Credit Futures ETF on the NYSE Arca exchange. This decision, announced today, follows a lengthy review process that began with NYSE Arca’s initial filing on March 13, 2024.
The SEC’s approval, granted on an accelerated basis, comes after multiple amendments to the initial proposal. NYSE Arca filed Amendment No. 4 on October 24, 2024, which replaced the preceding amended proposals in their entirety. The SEC is soliciting public comment on this final amendment while simultaneously granting its approval.
The path to approval involved several extensions and a formal review initiated by the Commission on June 20, 2024, to determine the merits of the proposed ETF. The SEC designated longer periods for review on May 2nd and September 3rd, respectively, before ultimately reaching its decision.
This approval marks a significant development in the cryptocurrency ETF landscape, introducing a novel investment vehicle that combines exposure to Bitcoin spot prices with carbon credit futures. The 7RCC ETF will trade under NYSE Arca Rule 8.500-E, which governs the listing and trading of trust units.
