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Brazil’s New Bitcoin ETF Aims to Reduce Carbon Emissions

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The acronym "ETF" is lined with gold letters on wooden planks.

A new exchange-traded fund in Brazil has touted itself as its first Bitcoin ETF that seeks to neutralize carbon emissions, CoinTelegraph reported.

Launched on the B3 Brazilian Stock Exchange last week, Hashdex Asset Management’s BITH11 ETF commits to invest 0.15% of its assets into carbon credits and tech linked to sustainable initiatives yearly.

Germany’s Crypto Carbon Ratings Institute has stepped in as a partner, producing annual reports of energy consumption and carbon emissions of stocks linked to the fund.

B3 Exchange Head of Client Relationship Rogerio Santana said the new fund gives investors a regulated and secure exposure to variations of Bitcoin.

Hashdex launched HASH11, its first crypto-focused ETF, in April. It has gained 33% so far. It also offers a weighted Nasdaq Crypto Index fund that tracks Bitcoin and its Bitcoin Risk Parity Gold Fund. BTC is up 2.06%.

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