Crypto asset manager One River Digital said an “overwhelming” majority of assets are in its institutional Bitcoin Funds have decided to switch to their new climate-neutral share class.
According to a Press releaseWith the new share class, customers will have the opportunity to invest in digital assets while offsetting the carbon emissions from crypto mining.
Recent major corporations’ interest in cryptocurrencies has put the Bitcoin mining process in the spotlight. Tesla’s recent decision not to accept Bitcoin as a means of payment for its electric vehicles highlighted the environmental problems associated with Bitcoin mining and fueled the demand for a cleaner approach to owning Bitcoin.
For One River, this means using an index to assign each bitcoin purchased a token credit premium of $ 55, which the company says is based on the amount of carbon used to mine a single coin. One River then buys tokenized CO2 credits that are validated on a blockchain.
One River Digital aims to build an ecosystem that supports clean digital assets. Sebastian Bea, President of One River, said, “We look forward to more opportunities as the digital asset ecosystem seeks a 100% carbon neutral future.”