The US Securities and Exchange Commission has extended the deadline for its decision on a proposal for a combined product that includes carbon credit futures and spot Bitcoin.
In a filing on Tuesday, the SEC announced that it would delay its decision on the 7RCC Spot Bitcoin and Carbon Credit Futures ETF until November 21.
The SEC stated that it needed more time to consider the proposed rule change and the comments it has received.
According to the proposal, the fund aims to invest 80% of its assets in Bitcoin and 20% in financial instruments, including swap agreements, that provide exposure to Carbon Credit Futures. 7RCC also plans to appoint Gemini as the custodian for the fund’s Bitcoin.
