European exchange to list Bitcoin carbon neutral ETP

European exchange to list Bitcoin carbon neutral ETP

Valour, a subsidiary of DeFi Technologies, will launch its new Carbon Neutral Bitcoin Exchange Traded Product (ETP) on the Frankfurt Stock Exchange. ETP trading starts on September 23.

The company has launched its ETP as a way to invest in Bitcoin as a “sustainable and climate friendly” is positioning. The ETP, which will charge an operating fee of 1.49 percent, also aligns with environmental targets and Environmental, Social and Corporate Governance (ESG) by funding certified decarbonization and remediation initiatives to neutralize the associated BTC carbon footprint.

Valour has partnered with Patch, a platform that provides climate action infrastructure and previously worked with Andreessen Horowitz and other key institutional investors, to structure the ETP.

“To estimate the amount of carbon emissions the Valour portfolio has, we use Patch’s API-based solution, which takes into account various inputs such as all carbon emissions associated with the investment, efficiency of mining equipment, distribution of hash power, and nation-level carbon emissions data to automatically achieve carbon neutral output. will be targeted.”

Patch will also be responsible for selecting projects based on environmental integration. In addition, the company will also evaluate the projects on criteria such as “addibility, real and verifiable permanence and negativity”.

Valour currently offers ETP assets include Valor Binance (BNB), Valor Uniswap (UNI), Cardano (ADA), Polkadot (DOT), Solana (SOL), Avalanche (AVAX), Cosmos (ATOM) and Enjin (ENJ) exists. Last March, the company noted that assets under management reached a value of $274.2 million.

Despite the poor performance of the cryptocurrency market this year, interest in crypto-related financial products has still not waned. Swiss crypto investment firm 21Shares launched two new ETPs last July that allow investors to invest in major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). The company aims to soften the volatility in the market by rebalancing assets with dollars.

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