This article comes fromThe Block, Twitter, original author: Michael McSweeney et al.
Odaily Translator |
Odaily Translator |
One River, a digital asset hedge fund backed by billionaire investor Alan Howard, has formally applied to create a bitcoin exchange-traded fund (ETF) that would involve the purchase of carbon credits to make the product carbon neutral.The plans for the One River Carbon Neutral Bitcoin Trust were first made public when the company announced a partnership with carbon credit platform MOSS in April.Reporting on One River's plans, One River CEO Eric Peters said at the time, "There's been a lot of talk about carbon footprints and we decided it was time to stop talking and start doing something about it."
according toaccording toSEC filing on Monday (May 24)
, One River Carbon Neutral Bitcoin Trust (One River Carbon Neutral Bitcoin Trust) is an exchange-traded fund (ETF) that will issue common shares of beneficial interest traded on the New York Stock Exchange. The trust's investment objective is to track the performance of bitcoin, as measured by the performance of the MVIS One River Carbon Neutral Bitcoin Index, adjusted for the trust's expenses and other liabilities. The index is constructed using bitcoin price data and volume-weighted average price (VWMP) from the qualified bitcoin spot market, calculated in 3-minute rolling increments every 20 minutes, and adjusted to reflect current spot prices offsetting each coin Carbon credits required for Bitcoin carbon footprint estimation. The index is designed to mirror Bitcoin’s dollar performance on a carbon-neutral basis. To meet its investment objectives, the trust will hold bitcoin and will have its share valued daily based on the same methodology used to calculate the index, adjusted for fees associated with offsetting carbon credits. The trust was sponsored by One River Digital Asset Management, LLC, a wholly owned subsidiary of One River Asset Management, LLC.
The document later explained that “the Trust intends to offset the carbon footprint associated with Bitcoin by purchasing and withdrawing carbon credits necessary to calculate the estimated carbon emissions associated with Bitcoin held by the Trust .The trust entered into an agreement with the Uruguayan company LIRDES SA (doing business under the name MOSS Earth) to purchase MCO2 tokens representing certified reductions in greenhouse gas emissions. The MCO2 tokens issued by MOSS are Technically encrypted and tokenized assets, stored in registries managed by Verra. Verra is an organization that establishes and manages standards and programs related to carbon credits."
The document continues, “Each MCO2 token in circulation is intended to represent ownership of 1 certified carbon credit from the total amount of carbon credits held in MOSS accounts on the Verra Registry (stored in an aggregation pool) .Tokenized carbon credits are fungible and do not represent ownership of a specific underlying carbon credit for a specific carbon reduction project. The Trust will initially purchase MCO2 tokens from MOSS at a pre-agreed price from time to time, the amount Enough to offset the estimated carbon footprint of Bitcoin in the trust's portfolio to track the performance of the index. After the agreement with MOSS expires in April 2031, the trust will either enter into a replacement agreement or purchase MCO2 tokens currency or similar carbon credits at the then-current spot price of such instruments.”The ETF's filing comes amid growing public debate over the carbon footprint of the bitcoin network, particularly its mining ecosystem.According to previous reports, and other companies in the space have taken financial steps to mitigate the carbon impact of their operations in recent days. These include Canadian bitcoin ETF issuer Ninepoint, which has also moved to offset the carbon impact of its products. However,critics accusegreenwashing（greenwashing）”。
Odaily note:Odaily note:greenwashingused to describe a company
Or organizations declare their contribution to environmental protection with certain behaviors or actions, but in fact they do the opposite. This is essentially a false environmental propaganda.In addition to Bitcoin ETF issuers, other practitioners are also active. MicroStrategy CEO, May 25Michael Saylor says
, I presided over the meeting between Tesla CEO Elon Musk (Elon Musk) and well-known North American bitcoin mining companies yesterday. Continuous development plan.
, Peter Wall, CEO of Argo Blockchain, a listed Bitcoin mining company that participated in the talks, said that the Bitcoin Mining Committee led by Musk and MicroStrategy CEO Michael Saylor will not change the code or homogeneity of Bitcoin, and will not distinguish Clean and unclean bitcoins. “We’re not going to talk about Bitcoin’s code or block size, and we’re not going to do anything that changes the nature of Bitcoin. We all love Bitcoin as it is, this decentralized, permissionless system,” he said.
