Accelerate Financial Technologies Plans Bitcoin ETF Denominated in USD and Canadian Dollar
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Accelerate Financial Technologies Plans Bitcoin ETF Denominated in USD and Canadian Dollar

February 4, 2021      Varinder Singh

Financial services firm Accelerate Financial Technologies based in Calgary, Alberta, has announced a plan to list its Bitcoin ETF on the Toronto Stock Exchange. The financial services firm has filed and obtained a receipt for a preliminary prospectus with Canadian securities regulators for the Accelerate Bitcoin ETF (ABTC).

Accelerate Bitcoin ETF Might List on the Toronto Stock Exchange

Accelerate Financial said that ABTC will offer units denominated in both U.S. 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.

However, the TSX has not conditionally approved ABTC’s listing application. Moreover, there is no assurance that the TSX will approve the listing application. Accelerate Financial introduced the first BTC fund in Canada in 2017. The company is planning to offer a wide range of alternative investment products to investors.

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Accelerate Financial founder and CEO Julian Klymochko stated that the company is looking forward to offering investors exposure to Bitcoin. Klymocho considers it as one of the best-performing assets based on its historical track record and future potential.

“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.”

Renewed Interest in Bitcoin ETF in 2021

In January 2021, Canadian investment fund manager Arxnovum filed a prospectus for a Bitcoin ETF with local securities regulators. On Jan. 21, VanEck filed with the U.S. Securities and Exchange Commission to launch a digital asset-related ETF that tracks the performance of the digital asset industry. Previously, VanECK sought permission from the U.S. for the regulated Bitcoin Exchange-Traded Fund.

Eventually, companies such as Bitwise, SkyBridge Capital, and GreenPro Capital have started showing interest in Bitcoin and launched Bitcoin funds at the starting of the year, capitalizing on the Bitcoin growth.

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#Accelerate Bitcoin ETF #Accelerate Financial Technologie #Bitcoin ETF #Toronto Stock Exchange
Varinder Singh
Varinder Singh

Varinder is a technical writer, technology enthusiast, and analytical thinker. Fascinated by disruptive technologies, he has shared his knowledge about blockchain, cryptocurrencies, artificial intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period, and is currently covering all the latest updates and developments in the crypto industry.