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Market news: EU member states have agreed to begin a new phase of negotiations for Ukraines accession to the EU.According to Axios: Meetings between Qatari and Iranian officials in Tehran are still ongoing.On July 10, a symposium on research and consultation regarding the construction of a modern industrial system was held in Beijing to discuss the findings of key investigations and research conducted by relevant democratic parties and the All-China Federation of Industry and Commerce. Wang Huning, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Chairman of the National Committee of the Chinese Peoples Political Consultative Conference, attended and delivered a speech. He stated that building a modern industrial system is a major strategic deployment made by the CPC Central Committee with Comrade Xi Jinping at its core, based on a profound understanding of the new round of technological revolution and industrial transformation, and a deep analysis of the situation and tasks of comprehensively building a modern socialist country. We must thoroughly study and implement General Secretary Xi Jinpings important expositions on building a modern industrial system, implement the tasks and deployments of the Fourth Plenary Session of the 20th CPC Central Committee regarding building a modern industrial system and consolidating and strengthening the foundation of the real economy, and earnestly carry out research, consultation, and policy advice work to contribute to building a new development pattern, promoting high-quality development, and advancing Chinese-style modernization.According to the Islamic Republic News Agency (IRNA), the Iranian memorial service will begin tonight and last for three nights.On July 10th, ING economists Marieke Blom and Amrita Naik Nimbalkar stated in a report that if the Eurozones savings rate falls to pre-pandemic levels, it could unleash demand for goods and services worth approximately 1% of GDP. In the first quarter of this year, household savings accounted for 14.3% of disposable income, higher than the five-year pre-pandemic average of 12.5%. In the US, the savings rate is projected to reach 10.2% by the last quarter of 2025, a level that could add nearly 2% to Eurozone GDP. With higher mortgage rates, slower credit growth, and precautionary saving dragging down spending, consumption is expected to remain weak. However, they stated that the shift from bank deposits to investments could lay the foundation for stronger spending and domestic demand in the coming years.

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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