Brazil continues to make progress in creating new investment opportunities related to cryptocurrencies. The first green and eco-friendly Bitcoin ETF has been approved in Brazil. Consequently, there are currently a total of 4 cryptocurrency-related ETFs that can be traded on the stock market.
In particular, BITH11, a new exchange-traded fund (ETF) launched in Brazil by cryptocurrency-focused alternative investment firm Hashdex Asset Management, claims to be the country’s first ‘green’ Bitcoin ETF.
For this purpose, the ETF tracks the Bitcoin Nasdaq benchmark price index. Likewise, the new “green” Bitcoin ETF promises carbon neutrality. Hashdex, has offered to invest a part of the assets managed by its new ETF BITH11 in carbon credits and green technology.
Specifically, the fund will invest 0.15% of its liquid assets in carbon credits and green technologies each year.
In this regard, Rogerio Santana, director of B3, the main Brazilian Stock Exchange, highlighted the importance of this initiative. Because, in addition to complying with national legal regulations, BITH11 also promotes a positive impact. Not only in the industry but also in the entire ecosystem.
«The new ETF offers investors exposure to changes in Bitcoin, with all its growth potential and store of value, in a regulated, safe and sustainable way».
Brazil and its Green Bitcoin ETF
Mainly, the popularity of cryptocurrency green funds has increased this year. As the masses began to speak out of concerns about the fossil fuel based energy consumption of cryptocurrency mining operations.
Ultimately, this week, Brazil launched a second Bitcoin ETF with a green eco twist, under the symbol BITH11.
In more detail, the country launched a new Bitcoin ETF branded as being completely green, clean, and environmentally friendly.
In fact, this will be the second authorized ETF in Brazil that provides 100% exposure to Bitcoin. This investment product is expected to compete with the recently approved Bitcoin CME benchmark rate (QBTC11). In particular, the first ETF (QBTC11), was not considered green.
Likewise, the so-called First Green Bitcoin ETF in Brazil will use the audits of the German Cryptocurrency Carbon Rating Institute (CCRI). To determine the environmental impact of BITH11 investments. In addition, it allows investors to deduct 0.15% of their liquid assets in carbon credits and green technologies each year.
100% Ethereum ETF
In addition to the BITH11, a few days ago the first 100% Ethereum ETF was also approved.
In closing, should Brazil be applauded for its true perspective on crypto innovation? Leave your opinion in the comment box.
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