7RCC Asset Management launched the BTCK ETF on NYSE Arca on June 5, 2026, with a structure that allocates 80% to spot Bitcoin and 20% to carbon credit futures. The carbon sleeve uses CME EUA Phase 4 contracts from the European Union Emissions Trading System and CCA contracts from California's cap-and-trade program. This is the first US-listed Bitcoin ETF designed specifically to pass institutional ESG screens, which have historically blocked pension funds and endowments from holding spot Bitcoin due to proof-of-work energy concerns. The fund carries a 0.85% expense ratio and models 3% to 5% annualized tracking error against spot Bitcoin, driven by the carbon credit leg's price movements. The product targets allocators who are policy-constrained from buying existing spot Bitcoin ETFs like IBIT or FBTC. If BTCK pulls over $200 million in its first month, it signals real blocked-flow demand for ESG-compliant crypto exposure. The carbon credit overlay provides verifiable allowances under established carbon markets, allowing institutional ESG analytics tools to score the fund favorably.
