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Bitcoin Fund From Brazil Aims To Run A Carbon Neutral Business

By Harry B - Crypto Specialist - 09-08-2021


A leading investment firm, Hashdex, has recently announced that some of their BITH11 ETF crypto market investments will be put towards a greener environment. 

A new release from Hashdex Asset Management for an ETF or Exchange-traded fund, the BITH11, has been recently launched in Brazil. The investment firm has claimed to have the first carbon-neutral Bitcoin (BTC) ETF in Brazil.

The Bitcoin ETF intends to begin investing in carbon credits to help offset its Co2 emissions. To accomplish the firm's goal of minimising its carbon footprint, Hashdex has teamed with Germany's Crypto Carbon Ratings Institute. The collaboration between the investment company and the institute will provide annual carbon emissions reports while also measuring the energy consumption associated with the ETF.

The recently released Bitcoin exchange-traded fund plans to invest 0.15% toward a greener Bitcoin investment market yearly. In the second quarter of the year, the regulated fund investing in cryptocurrency launched the ETF with the ticker HASH11. A recent report published in a Bloomberg article states that the ETF HASH11 has increased by 33% in the past 30 days.

One River Digital, a hedge fund manager within the cryptocurrency trading industry, reported a mass spike in interest for greener Bitcoin investment products. The spike follows after Elon Musk is concerned over the carbon footprint and energy consumption of crypto coin giant Bitcoin. In June of this year, the Tesla CEO stated that the company would be accepting Bitcoin again once at least 50% of the BTC mining is used with renewable energy.

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