On Monday, crypto asset fund manager One River filed a unique bitcoin exchange-traded fund (ETF) registration with the US Securities and Exchange Commission (SEC). According to Form S-1 filed, One River intends to list a carbon-neutral bitcoin ETF on the New York Stock Exchange (NYSE).
One River’s Bitcoin ETF aims to provide a fund that offsets the carbon emissions associated with bitcoin mining
Carbon-neutral bitcoin mining within the cryptocurrency community has been an occasional conversation these days. One River is taking bitcoin funds to a different level by registering for a carbon-neutral bitcoin ETF with its partner carbon credit platform Moss. MOSS CEO Luis Felipe Adime elaborated in April that “MOSS Carbon Neutral Custody gives any institutional or corporate investor a means to offset the carbon emissions associated with crypto assets.”
Filed by One River on May 26, 2021 Form S-1 registration To disclose the company’s prospectus summary of “One River Carbon Neutral Bitcoin Trust” with the SEC. Ordinary shares are to be listed on the NYSE if the SEC approves the ETF, and performance will be measured with the MVIS One River Carbon Neutral Bitcoin Index. The ETF will take advantage of the spot price of carbon credits to offset calculations related to bitcoin energy consumption.
“The index is constructed using a bitcoin price feed and volume-weighted average price average (” VWMP “) from the qualified bitcoin spot market, which is calculated with a three-minute adjustment to reflect the current spot price of carbon credits. The increase is made at 20 intervals. Each compensates for the estimated carbon footprint due to bitcoin, “One River’s ETF filing notes. “The index is designed to reflect bitcoin’s performance in US dollars on a carbon-neutral basis,” the filing says.
The crypto community’s focus is on bitcoin’s energy consumption
The trust will hold bitcoin and offer direct exposure to leading crypto assets in USD but on a “carbon neutral basis”. Essentially, the trust provided by One River “provides direct exposure to bitcoin, and the value of the trust’s shares is valued on a daily basis using the same methodology used to calculate the index, as The offsetting is adjusted to reflect expenses associated with carbon credits. “
One River’s carbon neutral bitcoin trust filing with the SEC follows topical discussions being discussed during the last two weeks since Tesla Stopped accepting Bitcoin (B T c) for payment. Recently, Musk has been talking about working with North American bitcoin miners Creation Of a bitcoin mining council. Since then the bitcoin network has not focused on energy consumption, and the filing of One River comes at an interesting time.
What do you think about One River’s Carbon Neutral Bitcoin Trust filing on Monday? Tell us what you think about this topic in the comments section below.
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