One River Digital Asset Management Sees Rise in Institutional Demand for ‘Green Bitcoin’

One River Digital's index adds tokenized carbon credits as a premium to the bitcoin purchased.

Jun 9, 2021 at 9:33 p.m. UTC
Updated Sep 14, 2021 at 1:09 p.m. UTC

Crypto asset manager One River Digital said an “overwhelming” majority of assets in its institutional bitcoin fund have chosen to switch to its new carbon neutral share class.

According to a press release, with the new share class clients have an option to invest in digital assets while offsetting the carbon emissions of crypto mining.

The recent interest in cryptocurrencies by large corporations has spotlighted the bitcoin mining process. Tesla’s recent decision not to accept bitcoin as payment for its electric vehicles highlighted the environmental issues that accompany bitcoin mining and spurred demand for a cleaner approach to owning bitcoin.

For One River, that means using an Index to assign a $55 tokenized carbon credit premium to each bitcoin purchased, which the firm says is based on the amount of carbon used to mine a single coin. One River then buys tokenized carbon credits, validated on a blockchain.

One River Digital looks to build an ecosystem that supports clean digital assets. One River President Sebastian Bea stated “We look forward to further opportunities as the digital asset ecosystem seeks a 100% carbon neutral future.”

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

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

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
Sequoia's Guide to Surviving the 2022 Bear Market

Venture capitalists have gotten increasingly frantic over the last few months.

Venture capitalists have gotten increasingly frantic over the last few months.

CoinDesk - Unknown
2
CoinDesk - Unknown
NFT Art Museums Are a Good Idea

The metaverse turns galleries global, and helps fund the arts. This article is part of “Metaverse Week."

The metaverse turns galleries global, and helps fund the arts. This article is part of “Metaverse Week."

CoinDesk - Unknown
3
CoinDesk - Unknown
How the US Can Establish Itself as a Crypto Leader

Regulators have an opportunity to map out thoughtful, strategic policy on stablecoins and beyond.

Regulators have an opportunity to map out thoughtful, strategic policy on stablecoins and beyond.

CoinDesk - Unknown
4
CoinDesk - Unknown
No, the UK Is Not Going to Make USDC and USDT Legal Tender

For “legalize” read “regulate.”

For “legalize” read “regulate.”

CoinDesk - Unknown