Accelerate Financial Technologies Applies for Approval to Run BTC ETF

An Investment firm in Canada, Accelerate Financial Technologies, has initiated paperwork processes with the Canada Securities Regulators that will enable it run a BTC Exchange Traded Fund- ETF.

The Invesment firm revealed on Wednesday the 3rd of February, 2021 that it is still trying to obtain the state’s license to quote its ETF, Accelerate Bitcoin ETF on the Toronto Stock Exchange. The plan is for the ETF to use the acronym “ABTC”  on the stock exchange.

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For the interested investors, they can access the ETF via units designated in either the USD or the Canadian dollars C$. Investors will also be liable to pay the management fee of 0.70%.

The Chief Executive Officer of Accelerate Bitcoin ETF, Julian Klymochko, notes:  

“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,”

The CEO who also doubles as the founder continued that:

“Given bitcoin’s historical track record and future potential, along with its portfolio diversification properties, we are looking forward to offering investors exposure to the asset class in an easy-to-use, low-cost ETF.”

Other companies have also shown interest in obtaining an approval from the Canadian government to get a bitcoin (BTC, +2.82%) ETF running in Canada. Arxnovum Investments Inc. joined a train of other companies trying to obtain the government’s permit as it filed documents for its Arxnovum Bitcoin ETF. The plan is to have the ETF quoted on the Toronto Stock Exhange.

The United States also has the likes of Valkyrie et VanEck filing for new applications to run BTC ETFs even after several government refusals in the past.  

What is your take on these recent trends of ETF Approval filings? Let us hear it in the comment section below.