First Eco-Friendly Brazilian Bitcoin ETF Launched
Brazil’s second ETF launched under the name BITH11. The whole initiative of this Bitcoin ETF is to provide huge exposure to Bitcoin Investment & the friendly nature of crypto in the eco-contribution in Brazil.
Exchange Traded Fund (ETF) became a mainstream path for high level companies to get involved in crypto industry & crypto business, that is why, many companies are showing their inclination towards ETF in Crypto. Recently Brazil approved the first Ethereum ETF & now the Bitcoin ETF is finally ready to give huge exposure to Bitcoin And ready to compete against the existing Ethereum ETF.
Related: Brazilian Securities Commission approves first Ethereum ETF to operate in Latin America
This second Bitcoin ETF is launched under the name BITH11. The audit of this Bitcoin ETF will remain under the Germany’s Crypto Carbon Ratings Institute. CCRI will analyse & determine the environmental effect because of BITH11 investments. The whole analysis will move 0.15% of the profit Investment assets in carbon credits and eco-friendly technologies department of Brazilian authorities every year.
So the idea of contribution of this Investment method that will help to make the environment of Brazil more greener, making BITH11 first ever Green Bitcoin ETF of Brazil.
The Director of the Brazil’s main stock exchange (B3), Rogerio Santana shared his points on this initiative on green Bitcoin ETF. According to Rogerio they are not only giving exposure to the better Investment opportunities under the legal framework but also they are giving exposure to the Investment in the whole ecosystem system.
“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.”
Well now, BITH11 became the second ETF which will be managed by Hashdex. The first ETF which is under management is HASH11.
Read also: Coinbase Adds Apple Pay To Allow Crypto Purchase
