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.
‘Enforcement 40’ for 2020
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