The act of planting trees will be used by Accelerate Financial Technologies to <a href="https://accelerateshares.com/media/bitcoin-etf-pledges-to-reduce-carbon-footprint-by-planting-trees/" target="_blank" rel="nofollow noopener">launch </a>a carbon-negative Bitcoin ETF. Accelerate claims that it will plant enough trees to compensate for the environmental damage caused by Bitcoin mining.
<h2>Carbon-Negative Bitcoin ETF By Accelerate Financial Technologies </h2>
For every C$1 million invested in its new carbon-negative BTC ETF, the Calgary-based firm has committed to planting around 3,500 trees. 

The Canadian government just authorized ETFs, while the US government has yet to do so as of this writing. 

For every million dollars spent, the firm believes that 1,000 tonnes of CO2 will be offset.
According to a blog post on the company's website, "Accelerate is seeking to change the image of Bitcoin's environmental effect with the approach and fulfill the rising demand from investors for environmental, social, and governance, or ESG, exposure."
According to Accelerate, this is neither a marketing trick nor a means to attract environmentally conscious investors to the fund. Julian Klymochko, Chief Investment Officer of Accelerate, states that he and the firm are "very conscious of the idea of greenwashing." 

He went on to explain that he had previously been suspicious of comparable items that appeared to appeal to the eco-conscious population. 

Because of this mistrust, Accelerate eventually chose to plant trees as a concrete contribution that is easy to measure and comprehend.

Accelerate will collaborate with H3M Environmental Ltd and a planting partner to assist with seeding and other environmental issues. The Accelerate Bitcoin ETF will be live on August 31.
<h2>There Is A Reaction Against Cryptocurrency Mining</h2>
Accelerate's <a href="https://www.cryptoknowmics.com/news/accelerate-financial-technologies-plans-bitcoin-etf-denominated-in-usd-and-canadian-dollar/">announcement</a> comes at a time when cryptocurrency mining is under more scrutiny and regulation. 

The majority of the discussion is centered on the huge amount of energy needed by mining, particularly for Bitcoin. 

The situation was so severe in China that the nation enacted broad mining prohibitions, driving the majority of the world's crypto miners to seek new jurisdictions.

According to the Cambridge Bitcoin Electricity Consumption Index, Bitcoin mining consumes more energy than whole nations such as Sweden. 

Despite this, the Index indicates that the sector is heading toward a more environmentally friendly future. 

As per the data, Bitcoin mining consumed 56% of the world's sustainable power in the second quarter of 2021. This number has risen from 36.8% in the first quarter of 2021.

Accelerate Financial Technologies Will Launch A Carbon-Negative Bitcoin ETF

Accelerate Financial Technologies Inc., a Canadian ETF provider, has revealed intentions to launch a carbon-negative Bitcoin ETF (exchange traded fund).

Kavya Barua is a voracious learner who is fascinated by crypto and Fintech advancements. Graduated from Janki Devi Memorial College's B.A (Hons) English program at the University of Delhi. She aspires to be a successful professional, having a keen interest in learning and achieving results.

Accelerate Financial Technologies Will Launch A Carbon-Negative Bitcoin ETF

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