Brazil gives the green light to a new Bitcoin ETF that will open the doors of investment in cryptocurrencies to more Latin investors, while promising to be friendly to the environment.
Hashdex Asset Management company is launching a new exchange-traded investment product (ETF) for Bitcoin (BTC)which will allow more Latin investors to be exposed to the price of the cryptocurrency industry leader in an environmentally friendly way. Hashdex Asset stated that its new Bitcoin ETF will be carbon neutral, to join the crypto community’s vision of the future of minimizing the possible environmental damage that the network may cause with its operation and functioning.
Through a releasethe company reported that the new Bitcoin ETF, dubbed Hashdex Nasdaq Bitcoin Reference PRICE Index Fund (BITH11)will be the first green Bitcoin ETF in Brazil, offering exposure to the cryptocurrency in a simple, safe, regulated and, best of all, environmentally sustainable way.
BITH11 will invest in carbon credits to neutralize the carbon emissions of bitcoins purchased through the fund, the statement said. For this, the company will evaluate the energy consumption required by the extracted bitcoin cryptocurrencies used by the investment fund, as well as the carbon emission of this energy consumption.
The company, specializing in investment fund management, recognizes bitcoin as an asset of great technological importance, which, as it is not correlated with other asset classes, has attracted the attention of investors, becoming a potential haven of long-term value.
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First green Bitcoin ETF in Latin America
Brazil continues to advance in its adoption of cryptocurrencies, opening new value opportunities for thousands of investors in the country and in Latin America. As Bit2Me News reported, this country is the first in the region to launch a Bitcoin ETF. Then, in the middle of last month, it approved the first Ethereum ETF, marking a clear leadership in the cryptocurrency sector.
Now, with the approval of BITH11, Brazil takes another step towards innovation and sustainability and becomes the first country in Latin America to approve a green ETF for BTC.
BITH11 will invest 0.15% of its annual liquidity in the purchase of carbon credits and in green technology, to reduce the carbon footprint on the environment. The company Crypto Carbon Ratings Institute, located in Germany, will support Hashdex Asset Management with the corresponding annual reports, to estimate the energy consumption and carbon footprint of the bitcoins that the fund acquires.
Bitcoin on the way to a green blockchain network
Bitcoin, the network blockchain and the most important cryptocurrency in the industry, has been the subject of controversy in recent months, due to its energy consumption.
Although the crypto community and several companies specialized in the sector, and even the International Energy Institute (International Energy Agency – IEA)have disproved several myths about the energy consumption of the network and affirm Since the operations of this chain of blocks consume much less energy than the traditional banking system and the exploitation of gold, BTC miners continue to look for ways to optimize their operations with clean energy sources, to reduce the energy consumption of this as much as possible. blockchain in the future
Currently, according to data According to the Bitcoin Mining Council, about 56% of bitcoin miners use clean and renewable energy sources. Likewise, several political leaders are calling on miners to operate within their jurisdictions with sustainable energy sources. For example, El Salvador is calling on miners to operate with geothermal energy; the city of Miami (United States) is calling them to operate with nuclear energy; the state of Wyoming offers nuclear and wind energy, which in the future will boost the sustainability of bitcoin globally.
Continue reading: Pro-Crypto Senator Cynthia Lummis Invites Bitcoin Miners to Set Up in Wyoming
