Crypto Exchange Launches Initial Climate-Friendly ETP Product
ETC Group's Physical Bitcoin (BTCE) Goes Carbon-Neutral
In a significant move towards sustainability, ETC Group, a leading player in the cryptocurrency sector, has announced that its Physical Bitcoin (BTCE) is now a carbon-neutral investment product. This means that the carbon footprint generated from the Bitcoin that BTCE physically holds is measured and fully offset through the purchase of carbon credits or investments in environmental projects that reduce CO2 emissions elsewhere.
According to Bradley Duke, the co-founder and CEO of ETC Group, this move is crucial for companies in the cryptocurrency sector to act now on climate change. Duke is a vocal advocate for the use of renewable energy by companies in the sector and believes that they should do more to address climate change issues.
BTCE, Europe's most traded, physically-backed Bitcoin ETP and the world's first centrally cleared, exchange-traded crypto product, is now the first Bitcoin ETP to adopt this carbon-neutral approach. The CO2 allowances for BTCE will be generated through the support of projects curated and managed by climate and nature conservation groups.
This approach addresses the energy-intensive nature of Bitcoin mining, which relies mostly on proof-of-work consensus and consequently consumes significant electricity. By investing in verified carbon offset projects such as reforestation, renewable energy, or other carbon capture initiatives, the carbon footprint of BTCE is neutralized.
This move is in response to a frequently expressed need by investors for climate-neutral Bitcoin products. BTCE, which has the ISIN DE000A27Z304 and is a crypto-ETP approved by the German regulator BaFin, enables investors to gain exposure to Bitcoin while minimizing the environmental impact.
For the most current and exact details on ETC Group’s carbon offset policies for BTCE, consulting the official ETC Group disclosures or white papers would be recommended. ETC Group, with its advocacy for action against climate change, continues to lead the way in promoting sustainable practices within the cryptocurrency sector.
[1] Source: https://www.reuters.com/business/sustainable-business/bitcoin-etp-goes-carbon-neutral-offsetting-emissions-from-mining-2021-06-10/
- ETC Group, by transforming its Physical Bitcoin (BTCE) into a carbon-neutral investment product, demonstrates its commitment to environmental-science and climate-change action.
- The carbon footprint of BTCE, a Bitcoin ETP that is Europe's most traded and the world's first centrally cleared exchange-traded crypto product, is neutralized through investments in verified carbon offset projects.
- As a vocal advocate for renewable energy and addressing climate change issues, Bradley Duke, co-founder and CEO of ETC Group, encourages other companies in the cryptocurrency sector to invest in sustainable finance and carbon-neutral practices in their operations.
