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Crypto asset manager One River Digital has said that an overwhelming majority of assets in its institutional bitcoin fund have chosen to switch to its new carbon neutral share class.
According to a press release, with the new share class, clients have the ability to invest in digital assets while offsetting carbon emissions from crypto mining.
Recent interest in cryptocurrencies by large companies has brought to light the process of bitcoin mining. Tesla’s recent decision not to accept bitcoin as a payment method for its electric vehicles has highlighted the environmental issues that accompany bitcoin mining and has spurred demand for a cleaner approach to bitcoin ownership.
For One River, that means using an index to assign a token carbon credit bounty of $ 55 to each bitcoin purchased, which the company says is based on the amount of carbon used to mine a single coin. One River then buys tokenized carbon credits, validated on a blockchain.
One River Digital seeks to create an ecosystem that supports clean digital assets. One River President Sebastian Bea said we look forward to further opportunities as the digital asset ecosystem seeks a 100% carbon neutral future.
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