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On May 21, the minutes of the Federal Reserve meeting revealed that staffs outlook on economic activity was slightly stronger than their forecasts at the March meeting. Real GDP growth is expected to be slightly above potential growth in the coming years. The unemployment rate is projected to be close to staffs long-term estimate this year and next, and slightly below that level around 2028. Staffs inflation forecast for this year is higher than at the March meeting, due to the latest data, higher energy prices, and other Middle East conflict effects expected to push up consumer price inflation. Inflation is expected to begin to slow after the first half of this year as the economic impact of various conflict-related factors gradually fades and the transmission of higher tariffs to inflation weakens; inflation is projected to be close to 2% by the end of next year. Overall, the risks to employment and real GDP growth forecasts are skewed to the downside, while the risks to inflation forecasts are skewed to the upside: inflation has been significantly above 2% for the past five years, Middle East conflicts could further push up inflation, and new price pressures are emerging in some categories unrelated to tariffs or energy prices. Therefore, staff consider the possibility of inflation being more persistent than expected a risk worthy of close attention.Citigroup CEO Frazier: The United States, Canada, and Brazil, as net oil exporters, are better able to cope with high energy prices.Citigroup CEO Frazier: U.S. consumer credit remains resilient, but Asian economies face greater vulnerability, and high oil prices and Middle East risks continue to threaten global growth.According to Politico: U.S. House Republican leaders have postponed a vote on the Iran war powers resolution originally scheduled for Wednesday.As of the 2:30 closing bell, the main Shanghai gold futures contract rose 0.88% to 996 yuan/gram, the main Shanghai silver futures contract rose 2.70% to 18,661 yuan/kilogram, and the main SC crude oil futures contract fell 5.24% to 647 yuan/barrel.

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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