The stated investment objective of the exchange-traded fund (“ETF”) is to track the performance of Bitcoin as measured by an index designed to reflect the performance of Bitcoin in U.S. dollars on a carbon-neutral basis. The ETF intends to offset the carbon footprint associated with Bitcoin once a quarter by paying for the instantaneous retirement of voluntary carbon credits equal to the daily estimated carbon emissions associated with the Bitcoins held by the ETF.
Source: SEC Considers Approval of Carbon-Neutral Bitcoin ETF | Cadwalader Cabinet | Find Know Do
