New Bitcoin ETF in Brazil, named BITH11, launched by Hashdex has promised to invest a portion of assets into green tech and carbon credits. Hashdex has partnered with Germany’s Crypto Carbon Rating Institute.
Cryptocurrency has been bashed many times since its first coin launch, Bitcoin, for its carbon emission which causes environmental issues. Countries were hesitant to adopt this innovation, but the situation is changing very rapidly and miners are trying to use green energy like solar or wind energy which is environment friendly. Tesla CEO Elon Musk first invested in crypto then dropped this idea due to these environmental issues created by the mining of Bitcoin. Musk after getting assurances of using green energy from miners of bitcoin started supporting crypto.
Today Musk being a supporter of the carbon-neutral world tweeted about his company Tesla saying that the customer of his company has avoided 500 metric tons of carbon emission in the year 2020.
New Bitcoin ETF goal
Newly launched ETF (exchange-traded fund), BITH11, will inevest 0.15% of its liquid assets for environmental-friendly technologies and carbon credits. Harshdex claims that BITH11 is the country’s first-ever green Bitcoin ETF. Last week under the ticker of BITH11 the fund was launched on the B3 Brazilian Stock Exchange. New Bitcoin ETF is bridging between real and digital world.
Rogerio Santana, the head of client relationship at B3 Brazilian Stock Exchange said:
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.
For the continuity of this goal Harshdex has partnered with Germany’s Crypto Carbon Institute. The latter will prepare annual reports on carbon emission and energy consumption of bitcoin creation due to the fund provided by the New Bitcoin ETF.