Brazil Launched First-Ever Eco Friendly Bitcoin ETF: Report

Brazil launched first-ever ECO friendly Bitcoin ETF the BITH 11 and it now has 4 crypto-related ETFs available on the market so let’s read more in today’s Bitcoin news.

Brazil continues to make more progress in creating new investment opportunities related to crypto since this week Brazil launched first-ever Eco friendly Bitcoin ETF as it continues to make progress in creating new investment opportunities related to crypto. Under the ticker BITH11, the Hashdex Nasdaq Bitcoin Reference Price replicated the performance of the Nasdaq BTC Reference Price index. This will be the second ETF available in Brazil offering 100% exposure to BTC and compete against the QR CME CF Bitcoin Reference Rate or WBTC11 which was also approved recently.

But Hashdex’s proposal differs from its QR Asset-managed competitors and it seeks to neutralize carbon emissions from BTC investments. The so-called First Green BTC ETF in Brazil will use audits by Germany’s Crypto Carbon Ratings Institute to determine the environmental impact of BITH 11 investments allowing it to invest 0.15% of the liquid assets in carbon credits and eco-friendly technologies each year.

Rogerio Santana who is the director of B3 outlined the importance of the intuitive noting that in addition to complying with the legal regulations of the country, BITH11 promotes a positive impact on the industry but also on the entire ecosystem. He was proud to have one of the extensive crypto investment offerings in the entire region:

“The new ETF offers investors exposure to the variations of the world’s leading digital asset, with all its growth potential and store of value, in a regulated, secure and sustainable manner … With the introduction of this ETF, we will also increase B3’s range of ESG products available to the market.”

This will be the second ETF managed by Hashdex and the first one is HASH11 or Hashdex Nasdaq Crypto Index replicating the performance of the Nasdaq Crypto Index which tracks the theoretical basket of various cryptos like Etheruem, Chainlink, Bitcoin, Bitcoin Cash, and Stellar Lumens. In addition to the offering, a few days ago, the first 100% ETH ETF was approved and the QR CME CF Ether Reference rate or QETH 11 is managed by QR assets and tracks the price movements of ETH through the CME CF Ether Reference Rate.

Hashdex and QR Assets control the Brazilian ETF market and the two investment companies positioned the country on the podium of places with the biggest diverse exposure to crypto ETFs. Brazil has a strict regulatory system as far as crypto investments are concerned but the country is also undertaking a huge regulatory reform thanks to the regulatory sandbox. The growing ecosystem of service providers did however wash the entire face of the industry.