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On September 9th, local time, the Iraqi Ministry of Transportation issued a statement saying that at 5:30 AM local time, a Panamanian-flagged oil tanker transporting fuel was struck by an unidentified object within Iraqi territorial waters, sustaining damage to its hull. No injuries or cargo leaks were reported. The statement said that following the incident, Iraqi security and maritime authorities immediately took preventative measures, isolating and continuously monitoring the vessel, while simultaneously conducting on-site monitoring of the surrounding waters to confirm whether there were any fuel leaks, other damage, or risks that could affect navigational safety and the marine environment. The Iraqi Ministry of Transportation stated that relevant departments are investigating the specific circumstances of the incident and verifying the source and cause of the attack.Traders have increased their bets on interest rate hikes by the European Central Bank and the Bank of England; they expect four rate hikes by the end of 2027.Amazon (AMZN.O) has set the size of its first sterling bond issuance at £4.25 billion.September 9th - According to sources familiar with the matter, Dow, a leading global materials science company, is considering exiting its $20 billion chemical joint venture with Saudi Aramco as part of the U.S. companys portfolio restructuring amid a prolonged industry downturn. As of last year, Dow held a 35% stake in the joint venture, Sadara Chemicals, with Saudi Aramco holding the remainder. Saudi Aramco may use this opportunity to acquire Dows stake and increase its holdings. Sources indicate that other strategic or financial investors may also bid for Dows stake. No final decision has been made, and the company may ultimately decide not to proceed with the transaction. Sadara, established in 2011, aims to develop an integrated chemical park with a total investment exceeding $20 billion. It operates 26 production units, producing more than 3 million tons of chemicals and plastics annually. During the investment process, Dow has taken on Sadaras debt exposure, including a guarantee for a $500 million revolving credit facility to help finance potential funding shortages. According to Dow, Sadara has drawn $80 million from this facility in the fourth quarter of 2025.September 9th - JPMorgan Chase CEO Jamie Dimon is scheduled to meet with UK Chancellor of the Exchequer John Healy on Wednesday, according to sources, as the new government considers imposing a surprise tax on bank profits in the upcoming budget. The CEO had an introductory call with Healy last month to discuss tax policy. In his first major speech in the position this week, Healy emphasized plans focused on economic growth and fiscal discipline. However, rising inflation expectations and uncertainty surrounding government spending plans have caused borrowing costs in the UK to surge in recent weeks, increasing expectations of a tax increase.

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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