Accelerate Financial Technologies; an investment firm came up with an announcement on Wednesday that it is seeking approval to list the Accelerating bitcoin ETF on the Toronto Stock Exchange under the ABTC ticker.
The ETF is going to offer for the units, which are denominated in the Canadian dollar and US dollar with 0.70% of the management fee.
Julian Klymochko, founder and CEO of Accelerate, said, “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.”
He continued to say that the given bitcoins have a historical track record, along with much potential with the portfolio diversification property. The team is looking forward to offering the investors more exposure to the class of asset. It is quite easy to use and low-cost ETF.
Accelerate is not the only one who is hoping for bitcoin ETF to get listed in Canada. Arxnovum Investments Inc. also came up with the filing of the documents for ETF listing. It is also planning to list on the TSX.
While with neighboring in the US after various rejections on the past bids for bitcoin ETF with the Securities and Exchange Commission, the two new applications are filed.