Greenpeace was concerned about Grayscale’s victory over the SEC yesterday and issued a note on Wednesday (30). In short, the environmental NGO believes that the rise of spot Bitcoin ETF orders is on the rise “will hinder your efforts to achieve your goals”.
Greenpeace launched the campaign “Change the code, not the climate”, sponsored by the founder of Ripple (XRP), in June this year. At the time, he asked Bitcoin to undergo a change similar to The Merge of Ethereum, which ended computing power-based mining.
In July, it also turned its attack on Wall Street giants such as BlackRock, Fidelity, Vanguard, Citigroup, JPMorgan Chase, Goldman Sachs, Visa, MasterCard and American Express, all pro-Bitcoin. However, the organization’s initiative became a laughingstock among investors.
Greenpeace Criticizes Bitcoin Mining Again
With Grayscale’s victory over the SEC in court, Bloomberg analysts found that a Bitcoin ETF has a 75% chance of being approved later this year and 95% by 2024. In a note, Greenpeace expressed concerns about the progress of the procedure.
“This decision could pave the way for new investment products that will further hamper efforts to meet our climate goals”said Joshua Archer, leader of the anti-Bitcoin campaign. “Before jumping on the Bitcoin ETF bandwagon, financial institutions should do due diligence on Bitcoin’s climate risk and its catastrophic impact on communities.”
“Bitcoin uses as much energy as entire countries, most of which comes from fossil fuels such as coal, oil and gas.”
The text also takes the opportunity to attack the ETF’s ETF request Jacobi Asset Management. According to an article published Tuesday in Bloomberg (29), the manager uses the English acronym “ESG”that means “environmental, social and corporate governance” in her request, but Greenpeace was not happy with the attitude.
“Attempting to label a Bitcoin ETF as an ESG investment is misleading.”
“Buying a renewable energy certification does not translate into a significant reduction in the environmental impact of Bitcoin mining and its significant carbon emissions”Sagittarius continued. “It is greenwashing and fails to address the real challenges of Bitcoin decarbonisation and cleanup.”
SEC should be careful, says Greenpeace, citing environmental risks
The first US spot Bitcoin ETF application was submitted on July 1, 2013. 10 years ago. Since then, the SEC has found several reasons to deny such applications, but the pressure is only mounting, especially with the arrival of the powerful BlackRock.
As an advisory, Greenpeace is asking the SEC to also assess the environmental risks associated with Bitcoin. “The SEC’s decision to greenlight or reject a US spot Bitcoin ETF must include a full assessment of potential climate impacts and risks”points to the text of the NGO.
“Clean up Bitcoin before it’s too late.”

Finally, it is hard to believe that the SEC would use such an argument to support its defense against a Bitcoin ETF. However, nothing prevents the Commission from using all possible means not to give in to the free market.
Source: Live Coins

Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.