Accelerate Financial Technologies, the Calgary-based financial services firm, has filed an application for a Bitcoin (BTC) exchange-traded fund (ETF) amidst a renewed interest in crypto ETFs from global financial firms.
It has been reported that the firm has filed and obtained a receipt for a preliminary prospectus with Canadian securities regulators for the Accelerate Bitcoin ETF (ABTC).
However, Accelerate Financial said that ABTC will offer units denominated in both United States and Canadian dollars. The company has applied to list ABTC units on the Toronto Stock Exchange, with the listing being subject to the exchange’s requirements.
Canada appears to be fast-tracking a Bitcoin ETF. If approved, the Accelerate Bitcoin ETF (ABTC) will be denominated in both Canadian and US dollars. https://t.co/lFNtYAXni2 — Cointelegraph (@Cointelegraph) February 4, 2021
The company noted:
“The TSX has not conditionally approved ABTC’s listing application and there is no assurance that the TSX will approve the listing application.”
Likewise, Julian Klymochko, the founder and CEO of Accelerate Financial, said that the company is looking forward to offering investors exposure to Bitcoin as one of the best-performing assets based on its historical track record and future potential.
Thus, he concluded:
“Bitcoin has been one of the best-performing asset classes on a 1-year, 3-year, 5-year and 10-year basis, both absolute and risk-adjusted.”
Source: Cointelegraph