Hashdex to Launch Bitcoin ETF Seeking to Offset Mining Emissions

The Hashdex Nasdaq Bitcoin Reference Price Index Fund will use a portion of the management fee to buy carbon credits and will be available as of August on Brazilian stock exchange B3.

AccessTimeIconJul 13, 2021 at 11:30 p.m. UTC
Updated Nov 7, 2022 at 5:31 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Brazil-based asset manager Hashdex will launch a fully bitcoin-based exchange-traded fund (ETF) that seeks to neutralize carbon emissions, the company announced Tuesday.  

The ETF will use a portion of the management fee to buy carbon credits and offset the carbon produced by the bitcoin held in the fund, Roberta Antunes, chief of growth at Hashdex, told CoinDesk. 

The product will be listed on Brazilian stock exchange B3 as of Aug. 4, Antunes said. Investors have until July 30 to secure the first shares of the Hashdex Nasdaq Bitcoin Reference Price Index Fund (BITH11). 

"We understand that bitcoin can contribute greatly to encouraging the use of clean energy around the world. We want to anticipate this movement and offer investors a product that stimulates the sustainable potential of this asset," said Antunes. She added that the company has the support of the Crypto Carbon Ratings Institute (CCRI). 

According to Hashdex, CCRI will produce annual reports containing calculations and estimates of energy consumption and carbon emissions relating to the mining process of all bitcoins acquired by BITH11. 

Based on the calculations, the ETF will reduce its carbon footprint and seek to invest in stocks that make it feasible to maintain the environment, said Antunes. She said Hashdex will rely on CCRI's assistance in selecting potential partners and projects that aim to reduce the environmental impact in Brazil and worldwide. 

XP, Itaú BBA and Banco Genial will be the coordinators of the new ETF offering, according to Hashdex.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


Read more about