A small crypto asset management company focused on investing in environmental, social and government (ESG), 7RCC is the latest applicant for a bitcoin spot exchange traded fund (ETF), , a filing at the Securities and Exchange Commission.

7RCC, founded in 2021, was created to give EGS-conscious investors access to crypto- and blockchain-related assets. Its CEO said that the company began the ETF process 18 months ago, but waited to put the infrastructure in place before filing an application. This is why the company is much later to the race than other applicants such as Ark 21Shares Grayscale, and BlackRock.

In an interview, CEO Rali Perduhova stated that “we were trying to position us to be part that first batch but clearly that did not work.”

7RCC’s Crypto ETF is different from others in that it contains 80% bitcoin, and the rest will be carbon credits futures. Perduhova stated that the cryptocurrency exchange Gemini would provide custody of the fund’s Bitcoin.

The filing failed to name the custodian of cash and other equivalent assets.

In a Press Release Gemini stated that the ETF will allow investors to balance “the innovative aspect of Bitcoin and the progressive world of Carbon Credit Futures.” The Fund offers investors a single-traded approach to digital assets as well as environmental sustainability.

In recent months, industry participants and observers have become more optimistic that the SEC would approve a bitcoin ETF. They cite the regulator’s increased involvement with potential issuers as well as a recent court order asking the agency for a review of one of its ETF reject orders.

Nikhilesh De.