CO2 - Carbon Fund units

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Anyone looking at these? My understanding is that the fund issues new units each week and backs them by actually purchasing carbon units on the open market. So the CO2 roughly reflects the spot Carbon price in NZ (approx $48 at the moment). Seems to me that a 40%+ increase is almost guaranteed within the next 6-9 months.... (or maybe I've misunderstood everything..)

Shaw Says No Wiggle Room As Carbon Price Nears Cap | Newsroom

"The Climate Change Commission had previously recommended that the ETS settings be adjusted as soon as possible to allow for a much higher carbon price. The cap would rise to $70 from 2022, in the commission's outline, and then jump "at least" 10 percent plus inflation each year thereafter."