Regardless of the bearish sentiment looming above the crypto markets, interest in the asset class keeps increasing. With more environmentally conscious investors on the rise, less degrading projects are taking center stage. In the latest development, Börse Frankfurt, or the Frankfurt Stock Exchange, will list a carbon neutral Bitcoin (BTC) ETP (exchange-traded product). The new product will begin trading today, September 23.
The company behind the new Bitcoin ETP is Valour, a subsidiary of DeFi Technologies. The company has rebranded the new ETP as Valor Bitcoin Carbon Neutral ETP. Valor is the first and only publicly traded company to connect Web3, decentralized finance and conventional financial markets.
According to the official press release, the new product will expose investors to “sustainable and climate-friendly” BTC. In addition, the company has stated that it would charge a nominal fee of 1.49%. In addition, the company has stated that the new Bitcoin ETP is aligned with environmental, social and corporate governance (ESG) objectives.
Valor CEO, Russell Starr, stated:
“Valour strives for its offerings to promote sustainable practices and contribute to efforts to build a carbon-neutral crypto industry. As a proud signatory of the Crypto Climate Accord, Valor takes its ESG commitments seriously. We want to give both retail and institutional investors the tools to participate in the exciting digital asset ecosystem and we are very proud to offer our first carbon neutral product.”
How does the Bitcoin ETP offset its emissions?
According to reports, environmental goals are achieved by sponsoring certified carbon removal and offset projects that aim to reduce BTC’s associated carbon footprint.
To create the new ETP, Valor partnered with climate action infrastructure provider Patch. In addition, the company has previously worked with Andreessen Horowitz and other major institutional investors. In addition, Patch only chooses high integrity initiatives that reduce, remove and capture carbon dioxide from the environment. In addition, Patch carefully selects initiatives and ensures that they are reviewed by reputable, established standards and organizations.
Moreover, in addition to the CO2-neutral Bitcoin ETP, Valor also has other ETPs in its range. These include Valor Binance (BNB), Valor Uniswap (UNI), Cardano (ADA), Polkadot (DOT), Solana (SOL), Avalanche (AVAX), Cosmos (ATOM), and Enjin (ENJ) ETPs. Interest in environmentally sustainable projects is increasing, which is only expected to increase as time goes on.