Digital asset management firm One River filed with the U.S. Securities and Exchange Commission (SEC) for a bitcoin exchange-traded fund (ETF) that would be carbon neutral through the purchase of carbon credits.
The S-1 filing with US SEC says that One River will list its carbon-neutral Bitcoin Trust on NYSE. The Bitcoin ETF track performance of asset using MVIS One River Carbon Neutral Bitcoin Index.
One River has partnered with the carbon credit platform MOSS, based in Uruguay, in April. Through the partnership, trust will purchase MCO2 tokens issued by MOSS. Each token represents a certified reduction in greenhouse emissions. The expiration of its agreement with Moss in April 2031.
“The MCO2 tokens issued by Moss are assets encrypted and tokenized utilizing blockchain technology and are stored on a registry managed by Verra,” according to the filing.” “Each circulating MCO2 token is representing a claim on certified carbon credit held in a pool of carbon credits within Moss account on the Verra Registry.”
Coinbase custody has partnered as the custodian for the ETF bitcoin assets. The trust will not purchase or sell bitcoin directly per filing. Instead, will use third parties to provide digital asset through “in-kind” transaction.
Bitcoin’s Energy consumption has been a hot topic lately. Recently Micheal Saylor hosted a meeting with Elon Musk and Crypto Miners to promote green crypto mining initiatives.
