April 17, 2024

New Bitcoin ETP to Be Listed on Stock Exchange

Valour, one of the subsidiaries of DeFi Technologies, has announced the coming debut of its Bitcoin Exchange Traded Product (ETP) which is carbon neutral and environment friendly. The Bitcoin ETP will be listed on the Frankfurt stock exchange in Germany. The ETP will start trading on the 23rd of September.

A New Climate-Friendly Bitcoin Initiative

Valour sells its ETP as a climate-friendly and sustainable exposure to the Bitcoin asset along with a management charge of 1.49%. The company got itself aligned with the global environmental plans, as well as the ESG. According to reports, this was achieved by financing certified carbon evacuation and initiatives to remove associated Bitcoin carbon.

In order to give proper structure to the Exchange Traded Product, Valour entered a partnership with Patch. The company, Patch, provides actions on climate infrastructure and it once worked in conjunction with Andreessen Horowitz, as well as other institutional investors of note.  

The announcement from Valour stated that every carbon connected with the new investment will become automatically targeted in order to get carbon-neutral products while using an API solution provided by Patch. 

The API recognizes different kinds of inputs like the effectiveness of mining kits, the distribution of hash rates, and carbon emission reports that are at a national level. The API then combines these inputs and draws an estimate of the amount of carbon emission present in the portfolio of Valour.

Guaranteeing Proper Checks

Patch is the arm of the business that selects the projects to be worked on based on the environmental integrity they have. The criteria to look out for will include negativity, additionality, and verifiable and real permanence.

The existing forms of Valour’s Exchange Traded Products include Valour Uniswap, Valour Binance, Cardano, Solana, Polkadot, Avalanche, Enjin, and Cosmos. Valour announced in March this year that it has gotten up to $274.2 million in total assets under its management.

In spite of the crash that the crypto market has gone through this year, interest attached to financial products that are connected with crypto has not faded. The Swiss crypto investment company, 21Shares, in July, started two new ETPs that gave investors exposure to the market’s biggest cryptocurrencies, Bitcoin and Ethereum. At the same time, the company aims to reduce the market’s volatility through a re-positioning of assets to the Dollar.   

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