Brevan Howard-Backed Firm Plans Carbon-Neutral Bitcoin Funds
- One River is applying cost of offsetting carbon emissions
- Some investors are put off by Bitcoin’s environmental impact
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It takes so much energy to mine Bitcoin that many investors won’t touch it for that reason. One River Asset Management, whose cryptocurrency funds are backed by billionaire Alan Howard, has a plan to remove that stigma: carbon neutrality.
One River, which manages $2.5 billion, developed a system that calculates the carbon cost of crypto mining and buys credits to offset the environmental impact. It’s building carbon neutrality into its existing Bitcoin and Ether funds and also planning to seek regulatory approval for an exchange-traded fund with the same features, Chief Executive Officer Eric Peters said in an interview.