Brazil Launches ‘Environmentally Friendly’ Bitcoin ETF, BITH11 - - Financial Market Media No. 1 in the World Brazil Launches ‘Environmentally Friendly’ Bitcoin ETF, BITH11 Brazil Launches ‘Environmentally Friendly’ Bitcoin ETF, BITH11

August 9, 2021

Brazil Launches ‘Environmentally Friendly’ Bitcoin ETF, BITH11

 Brazil has launched an environmentally friendly Bitcoin Exchange Traded Fund (ETF), BITH11, with the aim of neutralizing carbon emissions through Bitcoin investments.

BITH11 is the second ETF in Brazil and the second managed by Hashdex to offer 100% exposure to Bitcoin, after HASH11.

HASH11 or Hashdex Nasdaq Crypto Index mimics the performance of the Nasdaq Crypto Index (NCI) which theoretically monitors cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Chainlink (LINK), Bitcoin Cash (BCH), and Stellar Lumens (XLM).

BITH11 competes with the recently launched QR CME CF Bitcoin Reference Rate or known as QBTC11.

The first environmentally friendly Bitcoin ETF is said to use audits by Germany’s Crypto Carbon Ratings Institute (CCRI) to identify the impact of BITH11 investments on the environment, allowing investments of 0.15% of liquid assets in carbon credits and eco -friendly technologies each year.

In addition to being based on the country’s legal laws, the director of Brazil’s major exchange, B3, Rogerio Santana explained BITH11 highlights a positive impact that not only has on the industry but also affects the entire ecosystem.

The growth of the service provider sector has breathed new life into the crypto industry in Brazil.

For example Bank, Alter, and Uzzo Pay have allowed their users to have free bank accounts with the option to trade Bitcoin at market prices. That way, consumers can pay using money from fiat accounts through the use of prepaid credit cards.