TL; DR
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7RCC aims to launch the first ‘environmentally conscious’ spot Bitcoin ETF that will consist of 80% Bitcoin and 20% carbon credit futures.
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This seems like a (smart) marketing tool to help 7RCC attract the environmentally conscious investor and at the same time help offset Bitcoin’s carbon footprint.
Full story
If you want to be trendy, you have to add a little spice to what you do.
(You’ll also want to avoid using the words “trendy” and “pizzazz” – but we’re personally too far gone to do that right now).
Like for example: spot ETFs are all the rage right now.
And companies keep announcing why theirs will be great, and what these ETFs will do for the crypto landscape.
Well!! We have a new angle for you from the crypto company ‘7RCC.’
And it’s quite a combination.
Here’s what’s new:
7RCC wants to launch the first ‘environmentally conscious’ spot Bitcoin ETF.
That may sound like a contradiction, because Bitcoin doesn’t really have a reputation for being green, but…
7RCC just filed for this spot ETF, called “7RCC Bitcoin and Carbon Credit Futures ETF.”
It will include 80% Bitcoin and 20% carbon credit futures.
(A ‘future’ is an agreement to buy or sell an asset at a predetermined future date and price – essentially a bet on the future price of something).
That’s a bit like the way 7RCC says:
“Sure, Bitcoin is energy intensive, but look at all the carbon credits we buy – very earth conscious, right?”
They help attract the environmentally conscious investor while helping to offset Bitcoin’s carbon footprint.
Hopefully this solution is just a stopgap between now and a point in the near future when the majority of miners have switched to renewable energy.
Until then, this isn’t a bad option!