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On September 6th, U.S. Energy Secretary Frank Wright stated on Sunday that U.S. Navy escort ships are assisting oil tankers through the Strait of Hormuz, which is crucial for maintaining crude oil transport in the waterway, and hinted that the escort operation will not end anytime soon. Wright stated, "We are ensuring a large number of ships pass through, but this certainly requires the involvement of the U.S. military. Iran is still causing trouble, but the U.S. Navy is winning this battle." Wright claimed that more than 9 million barrels of oil are currently being transported daily through the Strait of Hormuz, and with more crude oil and refined products being transported via pipelines and other means, oil transport in the region has recovered to "two-thirds or more of pre-conflict levels." Last week, Wright stated that approximately 17 million barrels of oil passed through the Strait of Hormuz on Monday. Wright believes that with the end of the summer driving season and adjustments to the governments federal blending policy to increase supply, the price of unleaded gasoline may decline.SpaceX (SPCX.O): Confirmed that 27 Starlink satellites have been deployed in orbit.According to the Lebanese National News Agency, an Israeli drone strike in southern Lebanon has injured several people.Israeli Prime Minister Benjamin Netanyahu: If Iran attacks us, we will suffer unimaginable damage. We are determined to complete the task of overthrowing the Iranian regime.The U.S. National Hurricane Center reports that Karina is expected to weaken into a post-tropical storm tonight.

Carbon Neutral Bitcoin and Ethereum ETPs Listed on Swiss Exchange

Cory Russell

Apr 12, 2022 10:43

The two new ETPs on SIX are Bitcoin Zero (BTCO2) and Ether Zero (ETH2O).


The ETPs are the product of a campaign known as "Crypto becomes carbon neutral."


The debut took place at a time when the stock market was in free collapse.


While the crypto market and the stock market are two distinct things, investors can't seem to get enough of both. As a consequence, we are seeing the emergence of Exchange Traded Products (ETPs) (ETPs).


People desire something more sustainable even inside these ETPs, and carbon-neutral ETPs have been designed to meet that need.

Crypto Becomes Carbon Neutral

The influence of crypto on the environment has been a long-debated matter, with no clear answer in sight.


To put a stop to this, the European Union nearly outright outlawed proof of work, but the majority of members voted against it, saving Bitcoin, Ethereum, and other (PoW) cryptocurrencies.


Other businesses, on the other hand, are still attempting to become carbon-neutral, as did an ETP provider for the stock market.


In collaboration with the Swiss FinTech Innovation Lab of the Institute for Banking and Finance at the University of Zurich, Helveteq, a Swiss issuer of ESG-transparent investment products, launched the research-based project "Crypto becomes carbon neutral."


The two ETPs, Bitcoin Zero (BTCO2) and Ether Zero (ETHZ), were born from it (ETH2O).


"It is time to give investors the first carbon neutral crypto ETPs from a Swiss issuer," Dr. Christian Katz, the CEO of Helveteq, said. The relationship between the environment and the blockchain economy is becoming more widely recognized, and we must all work together to create long-term solutions."


These ETPs will be added to SIX's pool of 240 other investment products.

Perhaps Now Isn't the Best Time?

The introduction of the ETPs, which was announced today, was not the best timing given the current state of the crypto market. The market has lost more than $122 billion in total, forming a 6.25 percent long red candle.


However, even before today, the overall market capitalization had fallen below $2 trillion, and is at $1.841 trillion. As a result, there's a significant likelihood that this will have a detrimental impact on the launch of these ETPs.

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