Swedish digital asset manager Virtune has launched a carbon-offset bitcoin exchange-traded product (ETP).
The Virtune Sustainable Bitcoin ETP (VIRBTC) listed on Nasdaq Stockholm on Tuesday with a total expense ratio (TER) of 1.49%.
VIRBTC is physically backed by bitcoin and relies on data from ClimatePartner Sweden to calculate the emissions generated by its holdings.
These emissions are offset through projects including forest protection in Brazil, clean drinking water in Laos and renewable energy utilities across the African continent.
The ETP targets Nordic investors and is available on trading platforms including Avanza and Nordnet.
Christopher Kock, CEO of Virtune, commented: "Since its inception, Virtune has taken ESG related issues very seriously, and we are very pleased to introduce a sustainable and 100% physically backed bitcoin ETP, marking the beginning of Virtune's climate efforts.
“There is growing demand for investments in bitcoin seen in the Nordic region among both institutional and private investors, while sustainability issues are more relevant than ever.”
VIRBTC adds to an active period of launches for the firm with its maiden product, the Virtune Crypto Top 10 Index ETP SEK (VIR10SEK), debuting in May.
This came less than a month after Virtune received the green light to list ETPs in Europe.
