Canadian investment firm files to launch Bitcoin ETF

Accelerate Financial Technologies filed a preliminary prospectus for a Bitcoin-based exchange-traded fund (ETF) with Canadian securities regulators across all provinces and territories of the country.

According to пресс-релизу, Accelerate Bitcoin ETF (ABTC) will offer units denominated in USD and CAD, with a management fee of 0.7%.

The firm also filed an application to list ABTC on the Toronto Stock Exchange (TSX), which will review it under its rules. There is no guarantee that TSX will approve the listing, the company said.

The founder and CEO of Accelerate, Julian Klimochko, described himself as a proponent of the leading cryptocurrency as an asset class since 2017, when Canada launched the first Bitcoin fund.

“Bitcoin has been one of the most effective asset classes over 1 year, 3 years, 5 years and 10 years, both on an absolute basis and on a risk-adjusted basis. Given its historical track record and future potential, as well as its diversification properties, we look forward to offering investors access to the first cryptocurrency in a simple-to-use and low-cost ETF,” he said.

Accelerate noted that ABTC shares cannot be offered or sold in the United States without the appropriate registration or exemption from it.

In the United States, the SEC is reviewing two Bitcoin ETF applications — from VanEck and Valkyrie Digital Assets.

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