According to the latest crypto-news from Canada, an investment firm “Accelerate Financial” has made an announcement for the users. The firm has announced that it has received approval from the Canadian regulators to offer Bitcoin exchange-traded fund (ETF).
The approval for offering the ETF marks it as the first official ETF for Bitcoin that will be launched in entire North America. The approval for offering the institutional product to the users in the region has been given by the Ontario Securities Commission.
The sources have confirmed that the document for approval was issued by the Ontario Securities Commission on February 11, 2021. After being granted approval, the firm will be able to offer its institution product in several regions.
Some of the major regions include Nova Scotia, Northwest Territories, Labrador, Nunavut, Yukon, Prince Edward Island, Alberta, Manitoba, New Brunswick, Quebec, Newfoundland, and British Columbia.
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It was before February 2, 2021, when Accelerate Financial Technologies went ahead and filed the request for the preliminary EFT prospectus.
The firm announced that it had received the receipt for the preliminary prospectus that was provided by security regulators from Canada for Accelerate Bitcoin ET (ABTC).
It has been confirmed by Accelerate Financial firm that it will be offering units that will be denominated in both Canadian and United States dollars. The users will also be charged with a management fee, which is currently set to 0.7%.
Accelerate Financial Technologies firm has revealed that it is aiming to list the units on the Toronto Stock Exchange (TSX).
The CEO and Founder at Accelerate Financial Technologies, Julian Klymochko also talked about Bitcoin (BTC) and the company’s exchange-traded fund (ETF) for Bitcoin (BTC).
Klymochko stated that Bitcoin (BTC) has emerged as the best performing and very promising assets in recent years. From the looks of it, Bitcoin (BTC) is set to rule the financial and investment industry for years to come. With time, Bitcoin (BTC) has matured with respect to its price and stability and has become risk-free.
The current situation of Bitcoin and its potential to go high with respect to its price in the future is clearly visible. This is the reason why Accelerate Financial is confident that introducing Bitcoin (BTC) would earn it a lot of exposure from the investors. Therefore, the firm will be offering Bitcoin (BTC) to the users in the form of ETF that will be of low cost.
In addition to the Bitcoin (BTC) ETF, Accelerate Financial is also known for providing a suite for other exchange-traded funds. One of the prominent exchange-traded funds launched by Accelerate Financial other than Bitcoin ETF recently was OneChoice Alternative Portfolio ETF.
