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Brazilian Bitcoin ETF BITH11 Pledges to Adopt Carbon Neutrality

UTC by Juhi Mirza · 2 min read
Brazilian Bitcoin ETF BITH11 Pledges to Adopt Carbon Neutrality
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Hashdex will be investing a portion of its assets acquired and managed via BITH11 ETF into mitigating growing carbon emissions through the purchase of carbon credits and green tech.

Hashdex which has recently launched a new exchange-traded fund called BITH11 is planning to adopt carbon neutrality by investing earnings acquired via managing of its BITH11 ETF into purchasing carbon credits and green tech.

Hashdex which is a crypto exchange alternative investment firm has formally introduced a new ETF BITH11 which according to the organization is the country’s first-ever “Green” Bitcoin ETF.

Hashdex’s BITH11 Partners with Germany’s Crypto Carbon Ratings Institute to Mitigate Growing Carbon Emissions

BITH11 managed by Hashdex is the first green bitcoin fund that has partnered with the crypto carbon rating institute of Germany to track their carbon emissions CCRI will be responsible for providing the organization with the annual reports comprising measured carbon values needed for a particular batch of bitcoin to be mined and traded. This will allow the organization to have a precise estimate of their mining energy/consumption needs and help the company further to devise plans that can assist in mitigating growing carbon hazards to comply with the evolving green BTC initiative.

The BITH11 ETF at present plans to invest 0.15% of its assets into purchasing carbon credit and adopting new environmentally friendly technologies. The fund was launched by the B3 Brazilian Stock Exchange last week and now has acquired the title of being the country’s first-ever “green” BTC ETF.

BITH11 ETF which is managed by Hashdex, is a leading crypto investment firm, operating from Brazil. Hashdex has been accredited with the launch of Hash11, another premium crypto-focused ETF that was a massive hit among crypto consumers and had managed to earn a significant 33% profit in a short period since its launch date back in April 2021

Green crypto alternatives have now been accumulating a substantial following with more and more organizations venturing and adopting new ways to pool green initiatives and set limitations to mitigate growing carbon emissions. Earlier in May, Candian ETF Issuer Ninepoint announced their plans to go green via partnering with CarbonX.

Similarly, another crypto hedge fund manager One River Digital has reportedly recorded a rise in carbon-neutral crypto products and investments hinting at crypto industries which are now becoming more aware of the hazards that BTC mining can pose for the environment, and are actively looking for ways to mine Bitcoin and crypto variants in an eco-friendly manner.

Bitcoin News, Cryptocurrency news, Funds & ETFs, Market News, News
Juhi Mirza
Author Juhi Mirza

Juhi Mirza is an archaeology major who is obsessive about blockchain/Crypto technology and deems it to be the foundational philosophy of the future. Her dogged ability to research and crystallise technical facts/multiple perspectives into rivetting stories makes her an accessible finance writer. She tends to her archaeological pursuits and loves unearthing the past over the weekends.

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