According to TechFlow, the U.S. Securities and Exchange Commission (SEC) announced an extension of the review period for a proposal to combine carbon credit futures and spot Bitcoin products. The SEC postponed the decision on the 7RCC spot Bitcoin and carbon credit futures ETF to November 21. The SEC said it would take more time to consider the proposal and the related comments received.

According to the March filing, the fund proposed by crypto asset manager 7RCC plans to invest 80% of its assets in Bitcoin and 20% in "financial instruments that provide exposure to the carbon credit futures index, including swap agreements." 7RCC also plans to appoint Gemini as the custodian of the fund's Bitcoin. The S-1 registration statement for the ETF proposal was originally filed in December 2023, about a month before the SEC approved 11 spot Bitcoin ETFs.