Brazil Launches Its First Environmentally Friendly Bitcoin ETF…Details Here
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Answer Brazil Launches Its First Environmentally Friendly Bitcoin ETF…Details Here
Brazil continues to make progress in creating new investment opportunities related to cryptocurrencies.
This week, Brazil launched a completely new Bitcoin ETF with an ecological twist.
The new Bitcoin ETF, which is considered environmentally friendly, is called “BITH11” index.
This fund will be the second Bitcoin ETF available in Brazil to offer 100% exposure to Bitcoin, with a reference price of “QR CME CF Bitcoin” or “QBTC11” the latter also recently approved.
Brazil Launches Environmentally Friendly Bitcoin ETF:
Green Bitcoin ETF Suggestion From Hashdex, this fund seeks to neutralize carbon emissions from Bitcoin investments.
The first green Bitcoin ETF will use audits by the German Crypto Carbon Ratings Institute (CCRI), to determine the environmental impact of investments in this fund, allowing it to invest 0.15% of its liquid assets in carbon credits and green technologies each year. .
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Rogerio Santana, director of B3 Stock Exchange, one of the main Brazilian exchanges, explained the importance of this initiative, noting that in addition to complying with the country’s legal regulations, BITH11 promotes a positive impact not only on the industry but also on the entire ecosystem.
He added:
The new Bitcoin ETF provides investors with the ability to learn about variations on the world’s leading digital currencies, with all the potential for growth and storage of value, in a regulated, secure and sustainable manner…With the introduction of this ETF, we will also increase the range of B3 ESG products available in the market.
This, in turn, will be the second ETF managed by Hashdex.
The first is HASH11, which replicates the performance of the Nasdaq Crypto Index (NCI), as it tracks a theoretical basket of different cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash and Stellar.
In addition to this new offer, a few days ago, the first 100% Ethereum ETF was also approved.
In this way, “Hashdex” and “QR” assets control the Brazilian crypto ETF market.
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The two investment companies placed Brazil among the most diversified countries in dealing with exchange-traded funds.
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