It has been reported that BITH11 claims to be the country’s first “green” Bitcoin ETF. To meet the ETF’s objectives, Hashdex has partnered with Germany’s Crypto Carbon Ratings Institute, which will produce annual reports estimating the energy consumption and carbon emissions underpinning the creation of Bitcoin acquired by the fund.
However, 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.
Rogério Santana, the Head of Client Relationship at the São Paulo-based B3 exchange, stated:
“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.”
The report said that Hashdex has launched its first crypto-focused ETF, HASH11, in April of this year. Over the past month, HASH11 has gained 33%. In addition to HASH11 and BITH11, Hashdex also offers a weighted Nasdaq Crypto Index fund tracking BTC and its Bitcoin Risk Parity Gold Fund.
Likewise, green crypto funds have grown in popularity this year ever since concerns over the fossil fuel-based energy consumption of crypto mining operations entered mainstream discourse. In May, Canadian Bitcoin ETF issuer Ninepoint announced plans to offset the carbon footprint of its BTC fund, partnering with carbon offsetting service provider CarbonX.
Thus, the following month, crypto-focused hedge fund manager One River Digital reported a surge in demand for carbon-neutral Bitcoin investment products.