The Securities and Exchange Commission (SEC) has announced that it will be delaying its decision on the 7RCC's Spot Bitcoin and Carbon Credit Futures ETF application. The decision was postponed to June 24, 2024. This delay is due to the need for more time to review the application with Gemini, the chosen custodian for the ETF. The SEC is taking the necessary time to thoroughly assess the application before reaching a final decision.
The 7RCC's Spot Bitcoin and Carbon Credit Futures ETF is an innovative investment product that aims to provide investors with exposure to both the cryptocurrency market and the carbon credit futures market. By partnering with Gemini, a trusted cryptocurrency exchange and custodian, 7RCC is ensuring that the ETF will be securely managed and compliant with regulatory requirements. The delay in the SEC's decision reflects the complexity of the product and the need for a comprehensive review process.
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