ETC Group announced today that its crypto ETP, ETC Group Physical Bitcoin (BTCE), will be the first Bitcoin ETP with a carbon neutral feature.

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ETC Group will thus offset BTCE’s carbon footprint with handpicked, high-quality carbon credits that compensate for the CO2e1 emissions associated with BTCE Bitcoin mining. These carbon credits, supported by the world’s leading investment groups, will also support other projects of this type.

Bradley Duke, CEO of ETC Group, made a statement regarding the company’s announcement:

“Companies leveraging cryptocurrencies like Bitcoin are right to take meaningful steps to address climate concerns. We are pleased to see Bitcoin miners increasingly supplying renewable electricity, but we at ETC Group believe it is important to do more and act now. That’s why we launched our initiative to calculate the carbon footprint of our Bitcoin product and offset that with high-quality projects curated and tracked by some of the world’s most respected climate action companies.”

ETC Group will also fund a number of projects to offset all Bitcoin-related Scope 3 emissions. ETC Group also announced that it will join the Crypto Climate Accord, a group that aims to actively make the entire crypto industry carbon neutral.