Frankfurt am Main, 14 February 2023 – German crypto and digital asset manager, Deutsche Digital Assets, offsets the carbon footprint of DDA Physical Bitcoin ETP through project-based carbon credits supporting impact-oriented projects that have been tested and certified by renowned climate and nature conservation groups.
According to the transaction-based methodology, developed by the Frankfurt School Blockchain Center (FSBC), the DDA Physical Bitcoin ETP generated a carbon footprint of approximately 90 tonnes of carbon dioxide equivalent (tCO2eq) for the period from 1 July 2021 to 31 December 2022. DDA offsets DDA Physical Bitcoin ETP’s ongoing carbon footprint on an ongoing basis helping investors achieve their sustainability goals.
“While we believe that bitcoin is net-positive for ESG and that bitcoin mining will become greener in the future, we also acknowledge that – in some jurisdictions – the energy mix can be improved. With that in mind, we have launched our initiative to periodically calculate our bitcoin product’s carbon footprint. Consequently, we are offsetting this footprint through project-based carbon credits.” says Dominik Poiger, Chief Product Officer at DDA.
intas.tech, in collaboration with the Frankfurt School Blockchain Center, is applying the Bitcoin Carbon Neutrality Investment Standard (BCNISTM), periodically recalculating the CO2 footprint for Deutsche Digital Assets so these emissions may be offset in the long term. This is accomplished through the purchase of CO2 certificates supporting impact-oriented projects that have been tested and certified by renowned climate and nature conservation groups.
“We are pleased to work with Deutsche Digital Assets to lead the way for CO2 neutrality in the crypto space. Based on our scientifically proven calculation model (BCNISTM), Bitcoin may become more accessible to environmentally conscious investors. In general, the model is intended to apply to companies that offer financial products on Bitcoin (i.e., ETPs or funds) and thus have to disclose ESG-related information in the future for regulatory reasons (Sustainable Finance Disclosure Regulation).’’ says Benjamin Schaub, CDO at intas.tech.
Together with CTX Carbon Exchange, a leading global spot trading platform for voluntary carbon credit, DDA has offset 100 tonnes of carbon dioxide equivalent (tCO2eq) by permanently removing (“retiring”) the carbon credits from circulation.
With the carbon offsetting initiative for DDA Physical Bitcoin ETP, Deutsche Digital Assets is further establishing itself as one of the most innovative crypto and digital asset managers providing investors with sustainable and climate-smart exposure to Bitcoin.
|Product name||DDA Physical Bitcoin ETP|
|Ticker Xetra / Bloomberg||XBTI / XBTI GY|
|ISIN / WKN||DE000A3GK2N1 / A3GK2N|
|Total Expense Ratio||0.95%|
|Product Structure||Physically Replicated|
|Securities Lending||No Lending|
|Physical Coin Delivery||Yes, for individual investors|
|CO2 offsetting||With certified climate projects|
|Issuer||DDA ETP GmbH|
|Administrator||State Street Bank International GmbH|
|Security Trustee||Bankhaus von der Heydt GmbH & Co. KG|
|Custodians||Coinbase Germany GmbH|
|Market Maker||Flow Traders B.V.|
|Authorized Participants||Flow Traders B.V.Jane Street Financial Ltd. DRW Europa B.V.Enigma Securities Ltd.|
|Exchange Listings||Deutsche Börse Xetra – 12 May 2021 in EURSIX Swiss Exchange – 28 May 2021 in USDSIX Swiss Exchange – 28 May 2021 in CHFEuronext Paris – 1 July 2021 in EUREuronext Amsterdam – 1 July 2021 in EUR|
About Deutsche Digital Assets GmbH:
Deutsche Digital Assets is the trusted one-stop-shop for investors seeking exposure to crypto assets. We offer a menu of crypto investment products and solutions, ranging from passive to actively managed exposure, as well as White-Label solutions for Crypto ETPs.
We deliver excellence through familiar, trusted investment vehicles, providing investors the quality assurances they deserve from a world-class asset manager as we champion our mission of driving crypto asset adoption. DDA removes the technical risks of crypto investing by offering investors trusted and familiar means to invest in crypto at industry-leading low costs.
The ETP described herein is issued by DDA ETP GmbH. The prospectus for the DDA physically backed Bitcoin ETP is available at https://deutschedigitalassets.com/bitcoin-etp/. The approval of this Prospectus should not be construed as an endorsement of the securities offered or admitted to trading on a regulated market. This content is neither an offer nor a solicitation of an offer to purchase securities. The information contained in this document does not constitute investment advice or an investment recommendation. Every care has been taken in the preparation of this document, but errors and omissions excepted. The statements made are based on estimates, economic data, own assessments and forward-looking statements at the time of preparation of the document and are subject to change. Persons into whose possession this document comes must inform themselves about and comply with all applicable laws and regulations. ETPs are subject to numerous risks, including but not limited to general market risks related to underlying adverse price movements, as well as currency, liquidity, operational, legal and regulatory risks.
Deutsche Digital Assets GmbH:
Grosse Gallusstr. 16-18, 60312 Frankfurt am Main, Germany