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Intro: Hashdex has launched a bitcoin-based exchange-traded fund to neutralize carbon emissions.
Asset manager firm Hashdex has launched a fully bitcoin-based exchange-traded fund (ETF) recently. With the launch of this ETF, the company is looking to neutralize carbon emissions. The fund was launched under the HASH11 symbol with R$615.250.700.00. Genial, along with BTG, Itau and Banco Do Brasil, led the initial offering.
As per the reports, the ETF will use some amount of the fee to purchase carbon credits and offset the carbon produced by the bitcoin held in the fund. The HNCI ETF will give 100% exposure to some of the important crypto assets.
The requirements of institutional investors, financial advisors and individual investors via a broad market representation, trusted governance, daily liquidity and fair fees can only be fulfilled by the fund.
CEO of Hashdex, Marcelo Sampaio said that the fund has set the pace for each of the markets. The launch of HASH11 at B3 gives more comfort and security to the investors. These investors have access to the assets which follow the international safety parameters in this sector.
Investors’ interest
Chief of growth at Hashdex, Roberta Antunes has informed that come August 4, the product will be listed on the Brazilian stock exchange B3. The investors have the chance to get the Hashdex shares until July 30. Hashdex Nasdaq Bitcoin Reference Price Index Fund (B1TH11) will be secured by the July end. These are the first sjaes of Hashdex.
Antunes said to push the use of clean energy around the world, bitcoin plays a very important role. It is equally important to encourage this among the people. It is crucial to anticipate this movement. The company offers investors a product that stimulates the sustainable potential of this asset.
She also said that that company gets support from the crypto carbon Ratings Institute (CCRI). CCRI gives yearly reports that deal with the calculations and estimates of energy consumption and carbon emissions relating to the mining process of all bitcoins required by B1TH11.
Reducing carbon footprints
According to the calculations, the ETF will decrease its carbon footprint. It will further invest in stocks that will enable them to maintain the environment. Hashdex will also rely on CCRI’s assistance in selecting potential partners and projects that aim to decrease the environmental impact in Brazil and worldwide.
The coordinators of the ETF offering are XP Itau BBA and Banco Genial.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
