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On April 30th, according to foreign media reports, copper futures on the Chicago Mercantile Exchange (COMEX) continued to fall on Wednesday, closing at their lowest price in three weeks. A stronger dollar and soaring oil prices fueled concerns about inflation and economic growth, putting downward pressure on copper prices. The Federal Reserve kept interest rates unchanged, but three Fed policymakers dissented from the policy statement, reflecting a growing division within the Fed regarding whether to continue signaling rate cuts. Meanwhile, the two-month-long Iraq War between the US and Israel has led to a shortage of sulfuric acid, which is used in 20% of global copper production processes. In the medium to long term, green transition, electrification, and the artificial intelligence industry will help boost additional demand for this metal, which is widely used in the power and construction sectors, while copper mines face disruptions such as underinvestment and production interruptions.The Society of Motor Manufacturers and Traders (SMMT) reported that total UK car production fell 8.2% year-on-year in March to 72,511 vehicles.April 30th - With no signs of a resolution to the Iranian crisis, international oil prices rose for the fourth consecutive day, breaking through $110 per barrel. US President Trump stated that the blockade of Iranian ports would not be lifted until an agreement is reached. Trump discussed possible extensions of the blockade with oil executives; meanwhile, Iranian officials showed no signs of compromise, with the Supreme Leaders military advisor stating that Iran would respond if the blockade continued. Dennis Kisler, Senior Vice President of BOK Financial, stated, "The longer the blockade lasts, the more oil prices will rise. In the long run, this waiting situation may be a driving force for short-term increases in crude oil prices, but it could also be the condition needed to finally end this conflict."Trump praised the rise in Intels (INTC.O) stock price.Meta Platforms (META.O) CEO: We believe users will pay for the target-oriented AI features of the "high-end or high-computing-power version".

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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