Hashdex Asset Management, a crypto-focused alternative investing business, has launched BITH11, a new exchange-traded fund in Brazil that promises to be the nation’s first green Bitcoin ETF. On the Brazilian Stock Exchange, BITH11 provides simple, safe, regulated, and long-term access to Bitcoin.

Through the purchase of carbon credits, the fund intends to offset its related carbon emissions. Hashdex has collaborated with Germany’s Crypto Carbon Ratings Institute (CCRI) to achieve the ETF’s goals, and the institute will provide annual reports assessing the energy consumption and carbon emissions associated with the fund’s BTC acquisition.

Green crypto funds have increased in popularity this year as worries over crypto mining companies’ use of fossil fuel-based energy have gained mainstream attention.

Every year, the ETF aims to invest 0.15 percent of its liquid assets in carbon credits and environmentally beneficial technology. Late last week, the fund was listed on the B3 Brazilian Stock Exchange with the ticker BITH11. Hashdex also provides a weighted Nasdaq Crypto Index (NCI) fund that tracks BTC, as well as its Bitcoin Risk Parity Gold Fund, in addition to HASH11 and BITH11.

Bitcoin is now widely regarded as a potential reserve of wealth, in addition to being a technologically significant asset. Its stable monetary base, the security of its decentralized network, and the fact that it is unrelated to other asset classes have piqued the interest of major investors in general, as well as, more recently, renowned investors in the traditional financial market, who, in tandem with the network’s growth, have increased Bitcoin’s value thousands of times in the last decade.

Similarly, One River Digital, a crypto hedge fund manager, has reportedly seen an increase in carbon-neutral crypto products and investments, indicating that the crypto industry is becoming more aware of the environmental risks that BTC mining poses, and is actively looking for ways to mine Bitcoin and crypto variants in an environmentally friendly manner.

You Must Read: Bitcoin Mining Council says sustainable energy mix is looking more greener

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