In a pot over medium heat on the stove, whisk together the heavy whipping cream and water.
Whisk the cocoa powder into the mixture in the pot.
Place the keto chocolate chips and the coconut oil in a microwave safe bowl, and heat at 30 second intervals until completely melted and smooth.
Pour the melted chocolate into the hot cocoa mixture on the stove.
Whisk in the Splenda Naturals sweetener and the vanilla extract.
Continue to heat the mixture until it comes to a low boil.
Remove the hot cocoa from the heat, and pour into 4 equal servings.
Garnish with whipped cream and shaved chocolate chips if desired