A new exchange-traded fund for bitcoin BITH11 has appeared in Brazil. Fund management company Hashdex Asset Management claims it is the first green Bitcoin ETF.
The fund will be supported by its “environmental neutrality” through purchases of CO2 credits. To this end, Hashdex has signed an agreement with the German Cryptocurrency Carbon Research Institute (CCRI). The institution will issue an annual report on how much CO2 was released into the atmosphere during the creation of the bitcoins held in the fund.
The BITH11 managers plan to annually invest 0.15% of the fund’s assets in the purchase of quotas and in the development of environmentally friendly technologies. The topic of “green” cryptocurrency funds is gaining popularity due to concerns about the environmental dangers of bitcoin mining. Investment firm SkyBridge Capital recently acquired 38,400 tonnes of tokenized carbon credits.
“The new ETF provides investors with access to the world’s largest digital asset, its growth potential and value. It is a regulated, safe and environmentally friendly product, ”said Rogerio Santana, Public Relations Director of the B3 Stock Exchange in São Paulo.
Last year, Hashdex partnered with Nasdaq to launch the world’s first Bitcoin ETF on the Bermuda Stock Exchange.
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