New Brazilian Bitcoin ETF Pledges Carbon Neutrality

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

The fund plans to neutralize its associated carbon emissions through purchasing carbon credits. To meet the ETF’s objectives, Hashdex has partnered with Germany’s Crypto Carbon Ratings Institute (CCRI) — which will produce annual reports estimating the energy consumption and carbon emissions underpinning the creation of BTC acquired by the fund.

The ETF is currently aiming to invest 0.15% of its liquid assets into carbon credits and eco-friendly technologies every year. The fund was launched on the B3 Brazilian Stock Exchange late last week under the ticker BITH11.

Hashdex is an issuer of regulated crypto investment funds, having launched its first crypto-focused ETF, HASH11, in April of this year. Over the past month, HASH11 has gained 33% according to Bloomberg.

In addition to HASH11 and BITH11, Hashdex also offers a weighted Nasdaq Crypto Index (NCI) fund tracking BTC, and its Bitcoin Risk Parity Gold Fund.

Source: cointelegraph.com