Greenpeace criticizes launch of Bitcoin ETFs

Greenpeace expresses incomprehension over the admission of Bitcoin ETFs. Bitcoin mining in particular is at the center of criticism.

The admission of Bitcoin ETFs in the U.S. was a major turning point for the crypto sector. However, not everyone seems to be so positive about the launch of the financial products. In a recent blog post, Greenpeace sharply criticized the approval of the ETFs. According to the letter, they facilitate "investments that destroy the climate." Mining, the process by which new Bitcoin is created digitally, was particularly central to the criticism.

"Without substantial and measurable changes in the field of Bitcoin mining, this puts a serious strain on our efforts to reduce carbon emissions and avert the worst effects of the climate crisis."

The environmental organization is calling on major financial players such as BlackRock and Fidelity to adopt a "active role" to play in solving this problem.

Climate concerns about cryptocurrencies, especially Bitcoin, have been around for some time. Environmentalists and politicians always refer to the CO2 emissions from Bitcoin mining. The industry fiercely defends itself against the accusations.