Valour has extended its range of crypto ETPs with the launch of a carbon-neutral bitcoin exchange-traded product.
The Valour Bitcoin Carbon Neutral ETP (1VBT) is listed on the Deutsche Boerse with a total expense ratio (TER) of 1.49%.
The goal of 1VBT is to invest in bitcoin, the largest cryptocurrency by market cap, in a climate-friendly way through the funding of carbon removal and offset initiatives.
Valour will work with climate action infrastructure provider Patch to consider various inputs including the efficiency of mining equipment, distribution of hash power and ‘nation level’ carbon emission data.
Patch will select carbon offset projects from qualified organisation including Gold Standard, Climate Action Reserve, Verified Carbon Standard, BCarbon, American Carbon Registry and Puro.Earth.
The launch takes Valour’s crypto ETP range to 12. Last October, the firm launched the Valour Digital Asset Basket 10 Index (VDAB10) with a TER of 1.90%.
The launch of crypto ETPs has picked up in recent months, following the crypto winter, with the launch of the 21Shares Lido DAO ETP (LIDO) earlier this week and the DDA Select 10 ETP (SLCT) last month.