- Valour announces the debut of Bitcoin carbon neutral ETP.
- The 1.49% admin charge will go into funding carbon removal initiatives.
- BTC’s RSI is positioned at 37.17 less than 50, meaning traders are selling.
Valor Inc., the first publicly traded company that correlates traditional capital markets, Web3, and decentralized finance announced that it would debut its new carbon-neutral bitcoin exchange-traded product (ETP) on Börse Frankfurt.
We are proud to announce the debut of Valour Bitcoin Carbon Neutral Exchange Traded Product (ETP) on @boersefrankfurt!
— Valour (@ValourGlobal) September 23, 2022
Valour’s carbon-neutral ETP claims itself as offering investors “sustainable and climate-friendly” exposure to Bitcoin, with an administration charge of 1.49% which will be used for funding certified carbon removal projects.
By funding carbon removal initiatives, Valor believes that it aligns with the global environmental goals and Environmental, Social, and Corporate Governance (ESG) plans, as it would be used to mitigate BTC emitted carbon.
Furthermore, the announcement states:
All carbon emissions linked to the investment will be automatically targeted to achieve carbon neutral output using Patch’s API-based solution, which takes into account various inputs, such as the efficiency of mining equipment, distribution of hash power, and nation level carbon emission data, to estimate the amount of carbon emissions the Valour portfolio has.
Meanwhile, bears have been running the show, although BTC has had its insignificant price increase. The fact that BTC RSI is 39.79 which is less than 50, indicates that more traders are selling BTC than buying. Nevertheless, the RSI SMA is positioned above the RSI line and is sloped negatively.
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