Benzinga – The Securities and Exchange Commission (SEC) has announced it will require additional time to determine the fate of a proposed exchange-traded fund (ETF) focused on carbon credit futures contracts and Bitcoin (CRYPTO: BTC).
What Happened: In a filing made on Thursday, the agency stated that it will decide to “approve or disapprove, or institute proceedings” for the 7RCC Spot Bitcoin and Carbon Credit Futures ETF by June 24, 2024.
This delay indicates the SEC’s desire for a more thorough review of the proposed fund, which aims to invest 80% of its assets in Bitcoin and 20% in instruments providing exposure to carbon credit futures.
The filing cites the need for “sufficient time to consider” the unique structure and potential implications of this ETF.
The proposal, initially submitted in December 2023, predates the approval of 11 spot Bitcoin ETFs by the SEC.
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