BITH11: B3's first green bitcoin ETF

Charlie Taylor

BITH11 is B3's first green bitcoin ETF. In addition to being an asset of great technological importance, Bitcoin is now considered by many as a potential store of value. Its predictable monetary base, the security of its decentralized network and the fact that it is an uncorrelated asset from other asset classes caught the attention of major investors, who, along with the network's growth, made Bitcoin appreciate thousands of times in the last decade. BITH11 is a product that offers access to Bitcoin in a simple, secure, regulated and sustainable way on the Brazilian stock exchange. The growth in the adoption of bitcoin also brought about the energy expenditure necessary for crypto's mining. Although studies show that over 85% of bitcoin energy is clean, we believe bitcoin can do a lot to encourage the use of clean energy around the world. In an attempt to anticipate this movement, we chose to create a green product. The initiative has the support of another company, the German Crypto Carbon Ratings Institute (CCRI), provider of a globally recognized methodology for calculating carbon emissions in blockchain networks. CCRI will produce annual reports with calculations and estimates of energy consumption and carbon emission related to the mining process of all bitcoins acquired by the Hashdex Nasdaq Bitcoin ETF. Based on these calculations, the ETF will seek to neutralize its carbon footprint by investing in conservation projects.

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