Bitcoin Mania Is Relentless With ETF Upstart Touting Carbon Credits
- Bitcoin has seen scrutiny for its potential environmental toll
- If launched, new ETF would hold Bitcoin, carbon-credit futures
A technician installs ethernet and power cables for mining rigs at a cryptocurrency mining center.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
An ETF startup is trying to launch a Bitcoin fund, but with what looks to be an environmentally friendly twist amid continued scrutiny the industry faces around its potentially harmful impacts.
Miami-based 7RCC Global Inc., in its first-ever application, proposes to bring to market a fund that would have roughly 80% of its assets invested in Bitcoin and the rest in carbon-credit futures, which are issued with the hope of reducing greenhouse gases over time, according to the filing.