Newly launched BITH11 (Exchange Traded Fund) ETF commits to invest a portion of the assets into Carbon Credits and Green Tech.
On August 5, Hashdex launched its ETF under the ticker BITH11, offering a 100% exposure to Bitcoin.
The fund aims to curb its carbon emissions by purchasing Carbon Credits. It has partnered with Germany’s Crypto Carbon Ratings Institute (CCRI). CCRI will annually audit the energy consumption and carbon emissions underpinning the creation of BTC held by the fund.
A rough translation of what Rogerio Santana, the relationship director of the B3 exchange told Money Times Brazil:
“The new ETF offers investors exposure to variations in the world’s main digital asset, with all its growth potential and store of value, in a regulated, secure manner and under sustainability goals. With the launch of this ETF, we will also increase the shelf of B3 ESG products available to the market.“Rogerio Santana
Hashdex will also invest in sustainability projects in Brazil and worldwide.
Hashdex also manages another ETF called HASH11, or Hashdex Nasdaq Crypto Index. It imitates the performance of the Nasdaq Crypto Index (NCI), which tracks a theoretical basket of various cryptocurrencies such as Bitcoin, Ethereum, Chainlink, Bitcoin Cash, and Stellar Lumens. It is registered in the Cayman Islands and listed on the Bermuda Stock Exchange ( BSX)
Now, Brazil has four cryptocurrency ETFs in the stock market, including HASH11, QBTC11, QETH11, and BITH11.
Other eco-friendly crypto projects
Lately. the ecological debate about the environmental risks posed by Digital Currencies has gained considerable steam. That’s why green crypto funds have become popular.
In May, Canadian Bitcoin ETF issuer Ninepoint announced its plans to offset its carbon emissions by partnering with carbon offsetting service provider CarbonX.
A month later crypto hedge fund One River stated that the demand for carbon-neutral Bitcoin investment products among its clients is increasing.
Sustainability is needed in every facet of life to preserve the life-giver, the planet Earth. Buying carbon footprint credits is one way of doing so. Some start-ups are focussing on using alternative sources of energy. For instance, Compass is eyeing nuclear energy. Renewable sources might be the panacea the world is looking for.