New Brazilian Bitcoin ETF promises carbon neutrality

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Hashdex already has a place in a small number of assets managed by its new BITH11 ETF, including carbon credits and green technologies.

BITH11 is a new exchange-traded fund (ETF) launched in Brazil by Hashdex Asset Management, a fund focused on cryptocurrencies, and claims to be the country’s first “green” Bitcoin ETF.

The fund plans to offset its related carbon emissions by obtaining carbon credits. In order to achieve the ETF’s goals, Hashdex has partnered with the Crypto Carbon Rating Institute (CCRI) in Germany, which is able to issue an annual report to estimate the energy consumption and carbon emissions that support the creation of the BTC owned by the fund.

Currently, the ETF invests 0.15% of its current assets in carbon credits and environmental protection technologies each year. The fund was launched on the Brazilian B3 stock market later last week under the ticker symbol BITH11.

According to a rough translation, Rogerio Santana, Relations Director of the B3 Exchange in Sao Paulo, said:

“The new ETF, in a very regulated, safe manner and sustainable development goals, allows investors to be exposed to the changes in the world’s major digital assets, as well as all their growth potential and value reserves,”

Hashdex is a crypto investment regulated by the issuer. It launched its original crypto-focused ETF HASH11 in April this year. In the past month, HASH11 has risen 33%, in line with Bloomberg.

In addition to HASH11 and BITH11, Hashdex also provides a weighted Nasdaq Crypto Index (NCI) fund tracking BTC and its Bitcoin risk parity gold fund.

The quality of the green crypto fund this year is very high, because the crypto mining business based on the energy consumption of fossil fuels has entered the ideological discussion.

In May of this year, Canadian Bitcoin ETF issuer Ninepoint announced plans to cooperate with carbon offset service provider CarbonX to offset the carbon footprint of its BTC fund.

The following month, One watercourse Digital, a hedge fund manager focused on cryptocurrencies, reported that there was a surge in demand for carbon-neutral bitcoin investment commodities.

On August 3, the international investment company SkyBridge Capital announced that it has partnered with carbon credit provider MOSS Earth to purchase tokens representing 38,436 carbon offsets.


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