The race for bitcoin (BTC) ETFs in the United States is growing. This Monday, May 24, it was announced that the digital asset hedge fund One River applied to the United States Securities and Exchange Commission (SEC) for permission to launch an ETF.
The Difference of this new bet from One River, with the other bitcoin funds that are awaiting the SEC, is that it does not follow the price of bitcoin but a special index, called the MVIS One River Carbon Neutral Bitcoin Index .
The company explains that the index takes into account both the price of bitcoin in the markets and the carbon credits that are acquired by the fund.
In that In this sense, One River explained that the intention is to “offset the carbon footprint associated with bitcoin by buying and withdrawing the carbon credits necessary to account for the estimated carbon emissions associated with the bitcoins held by the fund,” according to the document delivered to the SEC.
One River partnered in April with MOSS , a carbon credit platform. These are financial instruments that represent a reduction in the carbon dioxide emissions that are produced, in order to balance the emissions made elsewhere.
The objective is to allow “climate conscious investors” the opportunity to “benefit from exposure to Bitcoin and Ethereum while offsetting their carbon footprint,” they stated in a statement.
One River will buy MCO2 tokens
In the text, One River also mention a agreement established with a company located in Uruguay, called LIRDES . The objective of the association is to buy MCO2 tokens that represent certified reductions in greenhouse gas emissions .
«The MCO2 tokens issued by Moss, are encrypted and tokenized assets using blockchain and are stored in a registry managed by Verra, an organization that establishes and administers standards and programs related to carbon credits, “they explained to the SEC.
As highlighted in the document, with each MCO2 token in circulation , a “claim can be made on a certified carbon credit held in an aggregated group of carbon credits within the Moss account in the Verra Registry.”
Bitcoin miners propose to offset CO2 emissions
Following the statements made by billionaire Elon Musk, a few weeks ago, about the digital mining of Bitcoin and the supposed environmental impact generated by this activity, there are many companies that have made proposals that benefit the environment and bitcoin.
The Greenidge Generation company announced that, As of June 1, will compensate 100% of CO2 emissions resulting from Bitcoin mining, as reported by CriptoNoticias.
In In this sense, they indicated that they will buy voluntary carbon offset credits from a portfolio of polluting gas reduction projects.
