The environmentally-focused financial product was introduced by a subsidiary of DeFi Technologies.
A subsidiary of DeFi Technologies, Valour, will debut its new Carbon
Neutral Bitcoin Exchange Traded Product (ETP) on the Frankfurt Stock
Exchange. Trading of the ETP begins on Sept. 23.
The company positions
its ETP as a “sustainable and climate-friendly” exposure to Bitcoin
with a management fee of 1.49%. The alignment with global environmental
goals and Environmental, Social and Corporate Governance (ESG) is
reportedly achieved through funding certified carbon removal and offset
initiatives to neutralize the associated BTC carbon footprint.
To
structure the ETP, Valour partnered with Patch — a platform that
provides climate action infrastructure and has previously worked with
Andreessen Horowitz and other notable institutional investors. The
announcement states:
“All carbon emissions linked to the
investment will be automatically targeted to achieve carbon neutral
output using Patch's API-based solution, which takes into account
various inputs, such as the efficiency of mining equipment, distribution
of hash power, and nation level carbon emission data, to estimate the
amount of carbon emissions the Valour portfolio has.”
Patch will
be responsible for selecting the projects upon based on their
environmental integrity. These criteria will include “additionality,
real and verifiable permanence, and negativity.”
Related: ‘Market will decide’ on post-Merge Ethereum ETPs, says crypto executive
Valour’s
existing soffering of ETPs includes Valour Binance (BNB), Valour
Uniswap (UNI), Cardano (ADA), Polkadot (DOT), Solana (SOL), Avalanche
(AVAX), Cosmos (ATOM) and Enjin (ENJ). In March 2022, the company
reported that it has reached $274.2 million in assets under management.
Despite
crypto markets tanking this year, the interest in crypto-related
financial products isn't fading. In July, Swiss crypto investment firm
21Shares launched two new ETPs offering investors exposure to the
largest cryptocurrencies — Bitcoin (BTC) and Ether (ETH) — while aiming to soften volatility via rebalancing assets to the United States dollar.
source link : https://cointelegraph.com/news/european-stock-exchange-to-list-bitcoin-carbon-neutral-etp
