Hashdex has launched its Bitcoin exchange-traded fund (ETF) in Brazil BITH11, the firm promises to invest a portion of the assets into carbon credits and green tech.
Hashdex Asset Management, a crypto-focused alternative investment firm, has launched BITH11, a new exchange-traded fund (ETF) in Brazil that promises to be the country’s first “green” Bitcoin ETF.
The fund intends to purchase carbon credits to offset its associated carbon emissions. Hashdex has teamed with Germany’s Crypto Carbon Ratings Institute (CCRI) to accomplish the ETF’s goals, and the institute will issue annual reports measuring the energy consumption and carbon emissions associated with the generation of BTC bought by the fund.
Every year, the ETF aims to invest 0.15 percent of its liquid assets in carbon credits and environmentally friendly technologies. Late last week, the fund was listed on the B3 Brazilian Stock Exchange with the ticker BITH11.
Rogerio Santana, connection director at the B3 exchange in So Paulo, said, according to a rough translation:
“The new ETF offers investors exposure to variations in the world’s main digital asset, with all its growth potential and value reserve, in a regulated, secure manner and under sustainability goals,”
Hashdex is a licensed cryptocurrency investment fund issuer that debuted its first crypto-focused exchange-traded fund, HASH11, in April of this year. According to Bloomberg, HASH11 has gained 33% in the last month.
Hashdex also offers a weighted Nasdaq Crypto Index (NCI) fund that tracks BTC, as well as its Bitcoin Risk Parity Gold Fund, in addition to HASH11 and BITH11.
Green crypto funds have surged in popularity this year as concerns over crypto mining operations’ use of fossil fuel-based energy have gained mainstream attention.
Ninepoint, a Canadian Bitcoin ETF issuer, announced in May that it would join with carbon offsetting service provider CarbonX to offset the carbon footprint of its BTC fund.
One River Digital, a crypto-focused hedge fund manager, reported a jump in demand for carbon-neutral Bitcoin investment products the next month.
SkyBridge Capital, a global investment firm, stated on August 3 that it has teamed with MOSS Earth, a carbon credit supplier, to purchase tokens representing 38,436 tons of carbon offsets.