Valour, a DeFi Technologies company, will introduce its new Carbon Neutral Bitcoin Exchange Traded Product (ETP) on the Frankfurt Stock Exchange. The ETP will be available for trading on September 23, as reported by Cointelegraph.
According to Cointelegraph, with a management fee of 1.49%, the business presents its ETP as a “sustainable and climate-friendly” exposure to Bitcoin. According to reports, the alignment with global environmental goals and Environmental, Social, and Corporate Governance (ESG) is achieved by funding certified carbon removal and offset efforts to offset the linked BTC carbon footprint.
Valour collaborated with Patch, a platform that delivers climate action infrastructure, and has previously worked with Andreessen Horowitz and other significant institutional investors, to develop the ETP. According to the announcement, “All carbon emissions linked to the investment will be automatically targeted to achieve carbon neutral output using Patch’s API-based solution, which takes into account various inputs, such as the efficiency of mining equipment, distribution of hash power, and national level carbon emission data, to estimate the account of carbon emissions the Valour portfolio has.”
Patch will be in charge of selecting projects based on their environmental integrity. “Additionality, genuine and verifiable permanency, and negativity” will be among the criteria. Valour Binance (BNB), Valour Uniswap (UNI), Cardano (ADA), Polkadot (DOT), Solana (SOL), Avalanche (AVAX), Cosmos (ATOM), and Enjin are among the existing ETPs (ENJ). The company claimed that it had $274.2 million in assets under management in March 2022, Cointelegraph noted.