Crypto Asset Firm One River Files for Carbon-Neutral Bitcoin ETF


Amid growing debate surrounding Bitcoin’s high energy consumption, one asset manager is looking to create a more environmentally conscious Bitcoin exchange-traded fund. According to SEC filings from earlier this week, One River Asset Management joins a growing list of firms looking to create their own Bitcoin ETF — but with a catch. The digital asset fund will purchase carbon credits as part of the fund structure, in hopes to offset the non-renewable energy usage in the Bitcoin mining industry. But how exactly will it work? In the filing, One River states that it would “offset the carbon footprint associated with Bitcoin by purchasing and retiring carbon credits necessary to account for the estimated carbon emissions.” The investment firm will work together with MOSS, a carbon credit platform based out of Uruguay that utilises blockchain technology to certify reductions in greenhouse gas emissions. One River will then purchase MOSS’ MCO2 tokens,…

Read the original article here