BITH11, a brand new alternate traded fund (ETF) launched in Brazil by crypto-focused different funding agency Hashdex Asset Management, claims to be the nation’s first “green” Bitcoin ETF.

The fund plans to neutralize its related carbon footprint by buying carbon credit. To obtain the ETF’s targets, Hashdex has partnered with the German Cryptocurrency Carbon Rating Institute (CCRI), which produces annual stories estimating power consumption and CO2 emissions as the premise for creating the BTC acquired by the fund.

The ETF presently goals to make investments 0.15% of its liquid funds yearly in emissions certificates and inexperienced applied sciences. The fund was launched final weekend on the Brazilian inventory alternate B3 with the code BITH11.

According to a tough translation, Rogerio Santana, director of relations at São Paulo-based B3 alternate mentioned:

“The new ETF offers investors regulated, secure and sustainable exposure to variations of the world’s most important digital assets, with all their growth potential and a store of value.”

Hashdex, an issuer of managed crypto funds, launched its first crypto-focused ETF, HASH11, in April this 12 months. Over the previous month, HASH11 is up 33%, in accordance to Bloomberg.

In addition to HASH11 and BITH11, Hashdex additionally presents a Nasdaq Crypto Index (NCI) tracker fund that tracks BTC and its Bitcoin Risk Parity Gold Fund.

Related: SkyBridge buys 38,500 tons of CO2 compensation

Green crypto funds have grown in recognition this 12 months as issues about fossil fuel-based power consumption by crypto mining operations have turn into mainstream.

In May, the Canadian Bitcoin ETF issuer Ninepoint, in cooperation with the CarbonX compensation service supplier, introduced a CO2 compensation plan for the BTC fund.

The following month, crypto-focused hedge fund supervisor One River Digital reported a rise in demand for climate-neutral Bitcoin funding merchandise.

On August 3, world funding agency SkyBridge Capital introduced that it had partnered with emissions certificates supplier MOSS Earth to buy tokens for 38,436 tons of carbon offsetting.