The Bitcoin ETF firm Hashdexplanned to be launched in August, it would help reduce the use of fossil fuel in digital mining. In this way, this firm dedicated to trading with cryptocurrencies, announced that a part of the commissions earned with its ETF, will go to the purchase of coal credits.
It should be noted that trading with the ETF products of this firm, will be available on the Brazilian stock exchange in August. Thus, this goodwill and exchange (ETF), will be dedicated in part to contribute to the reduction of carbon emissions. This was announced by the Hashdex last Tuesday.
Roberta Antunes, representative of the aforementioned firm, ratified the CoinDesk portal, that a percentage of the commissions will be dedicated to this. On the other hand, he recalled that investors have until July 30 to acquire the first shares of the firm. 5 days after that date, the ETF will begin trading on the Brazilian stock exchange.
Hashdex ETF Vision is to help the environment
The fact that the ETF Hashdex it would help combat the coal emission of Bitcoin mining, it is remarkable. This increases its importance because this is currently the main Achilles heel of the most popular of digital currencies. In fact, the price of Bitcoin fell about 50% last May due to criticism for its alleged environmental impact.
It should be remembered that the price of Bitcoin hovered around $ 65,000. At the time, Tesla CEO Elon Musk suspended the acceptance of BTC as a means of payment for its electric vehicles. The result, was the sharp drop in the market value of the pioneer cryptocurrency. At the time of writing, its price is close to $ 32,800 per currency.
Although other research has shown with important data that the impact of Bitcoin is not alarming, the damage is done. Thousands of people associate digital mining activity with environmental pollution. Therefore, this firm dedicates part of the profits of its ETF to improve the image of the mining business.
There are sectors such as open-pit mining or the military industrial complex, which consume tens of times more energy than Bitcoin. Furthermore, the level of greenhouse gas emissions from these sectors is infinitely higher than that of digital mining. For this reason, the ETF of Hashdex it would help not only improve the outlook on Bitcoin, but turn your industry into a role model.
From accused to accuser
The fact that companies and assets contribute to improving the process of generating Bitcoin with clean energy, can be of great impact. Consequently, it would be the business with the greatest tendency to shift from fossil fuel-based energy use to renewable sources. At the same time, it would be the most transparent of all.
Meanwhile, it should be said that, currently, Bitcoin mining has a percentage of 56% use of renewable energy. In this way, if it is the target of criticism, in the coming years the mining business could become an example to follow within this green transition.
«We understand that Bitcoin can contribute enormously to promoting the use of clean energy around the world. We want to anticipate this movement and offer investors a product that stimulates the sustainable potential of that asset“, explained Antunes of Hashdex. In this way, the ETF offer of Hashdex, would help keep pace with Bitcoin mining’s shift towards sustainability. For this, explains the representative of the firm, this will release annual reports of the state of the mining business. With this, they would be laying the foundations of a new vision of mining in the world. It is a contribution that would open the doors to entrepreneurship in Brazil and other countries, he concluded.