As a seasoned researcher with over two decades of experience in the financial industry, I find the recent development around the Nexo 7RCC ETF particularly intriguing. Having witnessed the evolution of Bitcoin and ETFs since their inception, it’s fascinating to see how these two paradigms are merging, especially with the addition of Carbon Credits Futures.
As a forward-thinking cryptocurrency investor, I’m excited about the recent submission of a unique proposal for a Bitcoin and Carbon Credits Futures ETF to the U.S. Securities and Exchange Commission (SEC). This groundbreaking initiative comes from the reputable fintech powerhouse, Nexo.
Spot Bitcoin ETF, ESG edition, is close to approval, Nate Geraci says
It looks like the first exchange-traded fund combining Bitcoin and Carbon Credit Futures, known as Nexo 7RCC, could soon receive approval from the SEC. Its potential issuer has recently filed an S-1 form with the U.S. regulatory body. This update was shared by The ETF Store’s Nate Geraci to his 53,000 followers on X.
A proposed amendment for an ETF called Nexo 7RCC Spot Bitcoin and Carbon Credit Futures has been submitted. This ETF, as its name suggests, will primarily hold 80% Bitcoin and 20% carbon credit futures. The U.S. Securities and Exchange Commission (SEC) has already approved the 19b-4 process for this ETF. It’s expected to be launched soon, making it a kind of “ESG” version of a spot Bitcoin ETF.
— Nate Geraci (@NateGeraci) December 21, 2024
The ETF, as its name implies, follows a strategy that invests 80% in Bitcoin (BTC) and 20% in futures contracts for Carbon Credits. These Carbon Credits are tied to emission permits that have been authorized by the regulatory bodies of the EU and California, U.S.
Geraci pointed out that the preliminary approval form 19b-4 has previously been given the green light for this ETF. Consequently, it’s reasonable to expect that the socially responsible (ESG) variant of the Bitcoin spot ETF will become operational.
Previously mentioned by U.Today, the significant cryptocurrency lender Nexo transformed its services to cater exclusively to ultra-wealthy individuals as a wealth management platform in the last quarter of 2024.
2024 Bitcoin Whitepaper Anniversary marks the unveiling of Nexo’s rebranding initiative. This transformation aims to bring cryptocurrency-focused wealth management offerings into the traditional finance (TradFi) sector.
Bitcoin ETFs logged largest outflow in six weeks as BTC dips below $92,500
In November 2024, it was revealed that the platform had introduced the initial blockchain-powered US Dollar accounts aimed at facilitating a smooth transition of liquidity from the traditional Web2 environment.
Currently, after a prolonged increase lasting over three weeks, U.S. Bitcoin ETFs are pausing. For the past three days, the total assets under management (AUM) of all these products have decreased. As shown by Bitbo, the recent outflow of approximately $400 million daily is the most significant since November 5th.
On December 17, 2024, the assets under management (AUM) of Bitcoin Exchange-Traded Funds hit a new peak of approximately $120 billion. At the moment of publishing, this figure stands at $111 billion.
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2024-12-21 18:53