European stock exchange to list Bitcoin carbon-neutral ETP

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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 Friday. 

The com­pa­ny posi­tions its ETP as a “sus­tain­able and cli­mate-friend­ly” expo­sure to Bit­coin (BTC) 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 offer­ing 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 and Ether (ETH) — while aim­ing to soft­en volatil­i­ty via rebal­anc­ing assets to the Unit­ed States dollar.

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