Under the ticker BITC, the Ninepoint Bitcoin ETF trades on the Toronto Stock Exchange and charges a 0.70-per-cent annual management fee, part of which will be used to offset the carbon footprint of the ETF.
Mr. Wilson said Ninepoint selected the Amazon projects, and it will partner with CarbonX, a provider of carbon emission analysis and carbon offsetting services. CarbonX, along with the Crypto Carbon Ratings Institute, provides scientific estimates for the energy consumption and environmental impact of cryptocurrencies, and will provide the carbon footprint analysis for the Ninepoint ETF.