Canadian issuer is making its Bitcoin ETF carbon-neutral

The effort comes as critics say Bitcoin’s environmental record has worsened while its price has skyrocketed.

Ninepoint, which has about US$6.5 billion in assets under management and institutional contracts, is partnering with environmental software fintech-firm CarbonX to purchase carbon credits and support forest conservation projects.

One River Asset Management, whose crypto funds are backed by billionaire Alan Howard, said it’s developed a system that calculates the carbon cost of mining and buys credits to offset the impact.

Canada was the first anywhere to carry the ETF label for a Bitcoin product.

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