February 4, 2021-Alternative-focused firm continues with conviction on top-performing asset class.
The race for Canada’s first bitcoin ETF has gotten more interesting with a third entrant to the competition.
Following similar announcements from Arxnovum Investments and Evolve ETFs, alternative ETF provider Accelerate Financial Technologies has filed a preliminary prospectus for Accelerate Bitcoin ETF (ABTC) with Canadian securities regulators.
“Ever since launching Canada’s first bitcoin fund in July 2017, I’ve been an advocate for the asset class,” said Accelerate founder and CEO Julian Klymochko. “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.”
Pointing to bitcoin’s historical track record, future potential, and portfolio diversification properties, Klymochko said Accelerate is “looking forward to offering investors exposure to the asset class in an easy-to-use, low-cost ETF.”
The Accelerate Bitcoin ETF, which the firm aims to launch on the TSX, will offer both U.S. dollar-denominated units and Canadian dollar-denominated units, with a management fee of 0.70%.
Accelerate offers a suite of other liquid-alt ETFs, including the recently launched OneChoice Alternative Portfolio ETF (ONEC), Canada’s first ETF to provide single-ticket exposure to multiple alternative asset classes and investment strategies including bitcoin, gold, arbitrage, and private credit.
See original article here: https://www.wealthprofessional.ca/investments/alternative-investments/race-for-canadas-first-bitcoin-etf-accelerates/337491