By Lucas Williams
As per the latest reports, BITH11 has made an announcement in regards to being an environment-friendly entity representing the crypto-verse. BITH11 is going to be a new Brazilian exchange-traded fund (ETF). The firm responsible for launching the ETF is known as Hashdex Asset Management, which is an alternative investment firm focused on cryptocurrencies.
The firm has announced that once its BITH11 (exchange-traded fund – ETF) is launched, it would be the first-ever Green ETF for Bitcoin in Brazil.
The firm has announced that its aim, for now, is to ensure that any carbon emissions associated with the company are neutralized. It will be doing so by carrying out purchases of the carbon credits. Hashdex has also announced that it has recently formed a partnership with Crypto Carbon Ratings Institute (CCRI) based in Germany.
Partnering with the firm would ensure that Hashdex is able to meet the objectives that it has set for its exchange-traded fund. The CCRI would be responsible for generating and providing Hashdex with reports on an annual basis. These reports would be responsible for providing estimations on carbon emissions and energy consumptions. These factors will be taken into consideration while tracking the production of Bitcoin (BTC).
Hashdex has revealed that through its exchange-traded fund, it is looking forward to investing its liquid assets at a percentage of 0.15% into eco-friendly technologies and carbon credits. According to Hashdex, it is aiming to do this almost every year and ensure it continues doing it as long as it is operational.
It was towards the end of last week when the exchange-traded fund for Bitcoin by Hashdex was launched. The ticket that Hashdex came up with for the exchange-traded fund was BITH11. It has been confirmed that the particular ETF has been launched through the B3 Brazilian Stock Exchange.
The relationship director at the B3 exchange, Rogerio Santana, also talked about the recent listing of Hashdex’s platform.
Santana stated that with the help and support of its new ETF, the investors would be able to gain more exposure to the digital asset industry. He stated that the purpose of their exchange is to provide users the ability to introduce variations in the main digital asset from around the world.
Santana stated that Bitcoin is the largest cryptocurrency in the entire world and investing in it would be an extremely beneficial move. The main reason behind launching an ETF is to provide more users access to a secure, regulated, and sustainable environment.
Hashdex has been constantly expanding its business and the first exchange-traded fund Hashdex has launched is going to become the first cryptocurrency-focused assets
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Many people have been against the idea of digital currencies like Bitcoin because of the higher energy they consume and the pollution they are producing, so coming up with an idea to reduce the higher energy consumption is certainly appreciable.
If this idea becomes successful, then it will be clear that cryptocurrencies can be traded online while still saving or consuming lesser energy.
This new startup will just pave ways for more success for cryptocurrencies. Through this startup, cryptocurrencies are going to enjoy more acceptance throughout the globe.