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Brazil Launches First Eco-Friendly Bitcoin ETF


Anna Martynova

Brazil launched the first green Bitcoin ETF, BITH11. This is the second crypto ETF approved in Brazil, offering 100% access to bitcoins competing with QBTC11 launched earlier. BITH11 is available on the main exchange in country B3. There are four ETFs listed in Brazil.

First Green Bitcoin ETF in Brazil will use audits by Germany’s Crypto Carbon Ratings Institute (CCRI) to determine the environmental impact of BITH11 investments. This will determine how much the fund needs to spend on carbon credits and investments in green technology.

The regulatory system in Brazil is quite strict. There is a regulatory sandbox here that allows regulators to first test innovations and only then make them part of legal reform. Blockchain platforms have established friendly relations with members of the traditional financial industry and this allows cryptocurrency services to open bank accounts for their users for free.

Image: Bitcoin News


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