Spot Bitcoin and Carbon Credits Futures ETF S-1 proposal was submitted to U.S. SEC by fintech heavyweight Nexo. Nate Geraci, a top crypto ETFs expert, is optimistic about its prospects.

Spot Bitcoin ETF, ESG edition, is close to approval, Nate Geraci says

A first-of-its-kind exchange-traded fund that will be tracking the price of Bitcoin and carbon credits futures is set to be approved soon by the U.S. Securities and Exchange Commission (SEC). The S-1 form for the Nexo 7RCC Spot Bitcoin and Carbon Credit Futures ETF has been amended.

The ETF will be tracking the combined portfolio of 80% Bitcoin (BTC) and 20% Carbon Credits Futures, as noted by The ETF Store's Nate Geraci, who shared the latest development with his 53,000 followers on Twitter.

“S-1 amendment filed for Nexo 7RCC Spot Bitcoin and Carbon Credit Futures ETF…Holds exactly what name suggests. 80% btc, 20% carbon credit futures. SEC has already approved 19b-4. Expect this to launch soon. Basically an ‘ESG’ version of spot btc ETF,” Geraci tweeted on Dec. 22.

The Carbon Credits are linked to emission allowances that are approved by the relevant commissions of the European Union and California, United States.

As highlighted by Geraci, the preliminary approval form 19b-4 is already approved for the ETF, and he will not be surprised when the “ESG version” of the spot Bitcoin ETF goes live.

The major cryptocurrency lender, Nexo, rebranded into a wealth management service for ultra-high-net worth individuals in Q4 2024, as reported by U.Today.

Announced on 2024 Bitcoin Whitepaper Day, the introduction of crypto-centric wealth management solutions to the TradFi segment will be realized by Nexo.

In related news, after a multi-week rally, spot Bitcoin ETFs in the U.S. are taking a breath. The total assets under management (AUM) of all products in this category have been bleeding for the third day in a row.

According to Bitbo, the recent $400 million daily outflow is the most painful one since Nov. 5. On Dec. 17, 2024, spot Bitcoin ETFs registered an AUM record at about $120 billion. As of press time, this metric sits at $111 billion.