A single River Digital sees surge in demand for carbon natural Bitcoin

Institutional investors have been showing the stronger appetite for a carbon-neutral Bitcoin (BTC) investment alternative by One River Electronic Asset Management. One Lake Digital, a crypto-focused hedge fund offering exposure to Bitcoin and Ether (ETH), introduced Wednesday that an “overwhelming most of assets” in its institutional Bitcoin fund have chosen to in order to One River’s new carbon-neutrality share class. In Apr, the company introduced a new program that calculates the co2 cost of Bitcoin mining plus buys tokenized carbon credit in order to offset the environmental influence. Based on the estimated carbon released per one BTC as well as the market price of the offset needed to neutralize that emission, the particular carbon cost of mining one particular BTC is equivalent to $55 each year, or 0. 15% off the cost of one BTC. One Lake buys these tokenized co2 credits, validating them on the blockchain. One River Electronic president Sebastian Bea stated that the growing number of institutional clients moving into One River’s carbon-neutral BTC investing might be a signal of a wider investment decision trend. “We believe it is reflecting of a broader shift in investor preferences, as transparency mounts across institutional portfolios. We look forward to further opportunities as the digital asset ecosystem seeks a 100% carbon-neutral future, ” that he said. One River Digital did not immediately respond to Cointelegraph’s request for comment. The latest news comes shortly after One River Digital filed for a carbon-neutral Bitcoin exchange-traded fund in late May. The carbon-neutral BTC ETF is made to reflect the performance of Bitcoin on a “carbon-neutral basis” that is to offset the carbon footprint by purchasing and retiring carbon credits to cover emissions associated with Bitcoin in the trust. One River’s carbon-neutral BTC investment tools come amid growing debate on the carbon impact of Bitcoin mining, with Tesla suspending BTC payments for its cars due to associated environmental concerns costs month. Major Bitcoin proponents like MicroStrategy CEO Michael Saylor believe that Bitcoin mining is the highest value use of renewable energy along with the highest use of wasted or stranded energy. According to Blockcap data, Bitcoin was using less than 0. 1% of human energy production global as of May 2021.