Coindesk Logo

One River Digital Asset Management Sees Rise in Institutional Demand for ‘Green Bitcoin’

One River Digital Asset Management Sees Rise in Institutional Demand for ‘Green Bitcoin’

One River Digital Asset Management Sees Rise in Institutional Demand for ‘Green Bitcoin’

One River Digital's index adds tokenized carbon credits as a premium to the bitcoin purchased.

One River Digital's index adds tokenized carbon credits as a premium to the bitcoin purchased.

One River Digital's index adds tokenized carbon credits as a premium to the bitcoin purchased.

AccessTimeIconJun 9, 2021, 9:33 PM
Updated Aug 21, 2021, 7:20 PM

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Crypto asset manager One River Digital said an “overwhelming” majority of assets in its institutional bitcoin fund have chosen to switch to its new carbon neutral share class.

According to a press release, with the new share class clients have an option to invest in digital assets while offsetting the carbon emissions of crypto mining.

The recent interest in cryptocurrencies by large corporations has spotlighted the bitcoin mining process. Tesla’s recent decision not to accept bitcoin as payment for its electric vehicles highlighted the environmental issues that accompany bitcoin mining and spurred demand for a cleaner approach to owning bitcoin.

For One River, that means using an Index to assign a $55 tokenized carbon credit premium to each bitcoin purchased, which the firm says is based on the amount of carbon used to mine a single coin. One River then buys tokenized carbon credits, validated on a blockchain.

One River Digital looks to build an ecosystem that supports clean digital assets. One River President Sebastian Bea stated “We look forward to further opportunities as the digital asset ecosystem seeks a 100% carbon neutral future.”

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.