7RCC, a small-cap ESG-focused crypto asset manager, is moving forward with its application for a Bitcoin spot ETF. NYSE Arca filed Form 19b-4 on March 13, which is the document it needs to list and trade the “7RCC spot Bitcoin and Carbon Credit Futures ETF.”
The 19b-4 filing is called a "Proposed Rule Change" filing and is required when a stock exchange wants to list a new product. It is considered the more important document in the U.S. SEC approval process, although new products require SEC approval before they can begin trading. (Cointelegraph)
According to news in December 2023, 7RCC recently submitted an ETF application to the US SEC covering spot Bitcoin and carbon credit futures. 7RCC’s crypto ETF differs from other applicants in that 80% of its assets will be comprised of Bitcoin, with the remainder held in carbon credit futures. Gemini will provide custody services for the fund’s Bitcoin. The application documents did not mention a custodian for the cash and equivalent assets.