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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