TL;DR
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7RCC wants to launch the first ‘environmentally conscious’ spot Bitcoin ETF which will comprise 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, while simultaneously helping offset Bitcoin’s carbon footprint.
Full Story
If you want to be trendy, you need to add a little pizzazz to what you’re doing.
(You’ll also want to avoid using the words ‘trendy’ and ‘pizzazz’ – but we’re personally too far gone to do that at this point).
Like, for example: spot ETFs are currently all the rage.
And companies keep announcing why theirs will be great, and what these ETFs will do for the crypto landscape.
Welp!! We have a new angle for you from the crypto firm ‘7RCC.’
And it’s quite a juxtaposition.
Here’s what’s new:
7RCC wants to launch the first ‘environmentally conscious’ spot Bitcoin ETF.
Which may sound like a contradiction, because Bitcoin doesn’t have much of a reputation for being green, but…
7RCC, just filed for this spot ETF, named “7RCC Bitcoin and Carbon Credit Futures ETF.”
It will comprise 80% Bitcoin and 20% carbon credit futures.
(A ‘future’ is an agreement to either buy or sell an asset at a predetermined future date and price – basically a bet on the future price of something).
Which is kind of like 7RCC’s way of saying:
“Sure, Bitcoin is energy intensive, but look at all the carbon credits we’re buying – v Earth conscious, no?”
Helping them to attract the environmentally conscious investor, while simultaneously helping 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 transitioned to renewable energy.
Until then, this ain’t a bad option to have!
