Hashdex has secured a position in a little of the assets managed by its new BITH11 ETF into carbon credits and green tech.
BITH11, a brand new exchange-traded fund (ETF) launched in Brazil by crypto-focused fund Hashdex Asset Management, claims to be the country’s initial “green” Bitcoin ETF.
The fund plans to neutralize its associated carbon emissions by getting carbon credits. To satisfy the ETF’s objectives, Hashdex has partnered with Germany’s Crypto Carbon Ratings Institute (CCRI) — which is able to turn out annual reports estimating the energy consumption and carbon emissions underpinning the creation of BTC owned by the fund.
The ETF is presently going to invest 0.15% of its liquid assets into carbon credits and eco-friendly technologies once a year. The fund was launched on the B3 Brazilian stock market late last week below the ticker BITH11.
According to a rough translation, Rogerio Santana, relationship director at the São Paulo-based B3 exchange, stated:
“The new ETF offers investors exposure to variations within the world’s main digital asset, with all its growth potential and worth reserve, in a very regulated, secure manner and under sustainability goals,”
Hashdex is an issuer-regulated crypto investment, having launched its initial crypto-focused ETF, HASH11, in April of this year. Over the past month, HASH11 has gained 33% consistent with Bloomberg.
In addition to HASH11 and BITH11, Hashdex additionally offers a weighted Nasdaq Crypto Index (NCI) fund pursuit BTC, and its Bitcoin Risk Parity Gold Fund.
Green crypto funds have big in quality this year as issues over the fossil fuel-based energy consumption of crypto mining operations entered thought discourse.
In May, Canadian Bitcoin ETF issuer, Ninepoint, proclaimed plans to offset the carbon footprint of its BTC fund, partnering with carbon countervailing service supplier CarbonX.
The following month, crypto-focused hedge fund manager One watercourse Digital reportable a surge in demand for carbon-neutral Bitcoin investment merchandise.
On August 3, international investment firm SkyBridge Capital proclaimed that it had partnered with carbon credit provider MOSS Earth to buy tokens representing 38,436 loads of carbon offsets.