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A lesser-known crypto asset manager, 7RCC, which focuses on environmental, social, and governance (ESG) investing, has entered the race for a spot-bitcoin exchange-traded fund (ETF), according to a filing with the Securities and Exchange Commission (SEC). Founded in 2021, 7RCC aims to provide access to crypto and blockchain-related assets for ESG-conscious investors. Unlike other ETF applicants such as Ark 21Shares, Grayscale, and BlackRock, 7RCC decided to wait until it had the right infrastructure in place before filing its ETF application, causing it to enter the race later. 7RCC’s ETF will consist of 80% bitcoin and the remaining portion will hold carbon credits futures. Gemini, a crypto exchange, will provide custody for the fund’s bitcoin holdings. The custodian for cash and equivalent assets has not been named in the filing. In a press release, Gemini stated that the ETF would allow investors to balance the innovative nature of Bitcoin with the progressive realm of Carbon Credit Futures, offering a single-trade approach to digital assets and environmental sustainability. The industry has grown hopeful that the SEC will soon approve a spot bitcoin ETF due to increased engagement with aspiring issuers and a recent court ruling requiring a review of one of its ETF rejection orders.