A River Fund Manager Filed Prospectus Files With The SEC For Carbon-Neutral Bitcoin ETF

On Monday, crypto asset fund manager One River registered a single Bitcoin exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC). According to filed Form S-1, One River wants to list a carbon neutral bitcoin ETF on the New York Stock Exchange (NYSE). One River's Bitcoin ETF aims to create a fund that offsets the carbon emissions associated with Bitcoin mining. One River is taking bitcoin funds to another level by signing up for the carbon neutral bitcoin ETF with its partner carbon credit platform MOSS. MOSS CEO Luis Felipe Adaime said in April that "MOSS Carbon Neutral Custody provides any institutional or institutional investor with a way to offset the carbon emissions associated with crypto assets." On May 24, 2021, One River filed an S-1 registration form with the SEC to disclose the prospectus summary of the company "One River Carbon Neutral Bitcoin Trust." If the SEC approves the ETF, its joint stocks will be listed in the NYSE, and performance is measured by the MVIS One River Carbon Neutral Bitcoin Index. The ETF will use the spot price of carbon credits to balance calculations related to Bitcoin's energy consumption. The index is compiled using an average volume-weighted median price ("VWMP") calculated over 20 intervals in three-minute increments, with adjustments to reflect the current spot price of Bitcoin price feeds from eligible Bitcoin spot markets and the carbon credits required to offset. The One River ETF filing notes are the estimated carbon footprint that can be attributed to each bitcoin. The index is designed to reflect bitcoin's performance in US dollars in a climate neutral way, ”he adds. The crypto community is focused on Bitcoin's energy consumption. Trust will own and provide direct exposure to Bitcoin assets.

Join the Discussion

  • BrokerEUR/USD
    InterTrader 0.6pips (fixed) margin: 3.33%
  • Back to top