• Ninepoint (BITC.UN) to fully offset the carbon footprint of Ninepoint Bitcoin ETF
  • The rapid growth of Bitcoin has raised some concerns over the cryptocurrency’s mining-related carbon footprint
  • To address this issue, Ninepoint has partnered with CarbonX, which through its long-standing Zerofootprint® brand, provides carbon emission analysis and carbon offsetting services
  • All costs of offsetting the carbon footprint of the Fund will be paid by the manager, Ninepoint, out of its management fee, and not unitholders of the Fund
  • Ninepoint will apply a portion of its management fee to offset the cost of carbon of the Bitcoin held by the ETF
  • Ninepoint Bitcoin ETF (BITC.UN) is down 1.20 per cent and is trading at C$17.28

Ninepoint Partners LP (Ninepoint Bitcoin ETF (BITC.UN)) informs investors that they can now get carbon-neutral exposure to Bitcoin.

“Ninepoint prides itself on being an innovative thought-leader in the investment space,” said John Wilson, Co-CEO and Managing Partner of Ninepoint.

“By offsetting the carbon footprint of our Bitcoin ETF, we’re living up to our commitment to offer investors better ways to diversify their portfolios,” added Wilson.

The rapid growth of Bitcoin has raised some concerns over the cryptocurrency’s mining-related carbon footprint.

To address this issue, Ninepoint has partnered with CarbonX, which through its long-standing Zerofootprint® brand, provides carbon emission analysis and carbon offsetting services.

CarbonX, along with The Crypto Carbon Ratings Institute will provide the carbon footprint analysis and carbon offsetting solutions for the Fund using carbon offsets from projects that meet the highest global standards.

Specifically, through this arrangement, Ninepoint is supporting various forest conservation projects in the Amazon.

In addition to avoiding the release of carbon dioxide into the atmosphere, are each contributing to the United Nations’ sustainable development goals which have direct positive impacts on the lives of local people in the region.

By fully offsetting the carbon footprint of the Fund, Ninepoint is providing all investors who care about the future of the planet a viable choice for allocating a portion of their portfolio to Bitcoin.

All costs of offsetting the carbon footprint of the Fund will be paid by the manager, Ninepoint, out of its management fee, and not unitholders of the Fund.

“We must all do our part to ensure Bitcoin grows in a more sustainable way. Ninepoint is showing the world one way to do that,” said Alex Tapscott, Managing Director of Digital Assets at Ninepoint.

“Investors increasingly want real ESG solutions for their portfolios, while not sacrificing on diversification. I believe Ninepoint Bitcoin ETF offers the best of both worlds and could be a model for our industry,” added Tapscott.

Prior to its unitholder-approved conversion to an exchange-traded fund, Ninepoint Bitcoin ETF was a closed-end investment fund with over US$300 million in assets.

Based in Toronto, Ninepoint is one of Canada’s leading alternative investment management firms overseeing approximately $8 billion in assets under management and institutional contracts.

Ninepoint Bitcoin ETF (BITC.UN) is down 1.20 per cent and is trading at C$21.18.

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