August 31, 2021 – Accelerate Financial Technologies Inc. (“Accelerate”) is pleased to announce the Accelerate Carbon-Negative Bitcoin ETF (“ABTC”) will trade on the Toronto Stock Exchange under the ticker symbol ABTC today. ABTC will also be available for purchase in U.S. dollars under the ticker symbol ABTC.U.
ABTC seeks to provide investors with exposure to the performance of bitcoin by investing in derivatives that provide exposure to bitcoin. Accelerate also intends to sequester over 100% of the estimated carbon dioxide emissions attributable to bitcoin transactions that ABTC is indirectly exposed to by funding decarbonisation initiatives.
“As a long-term advocate for bitcoin as an investable asset class, having launched Canada’s first bitcoin fund in July 2017, I am pleased to announce another true innovation,” said Julian Klymochko, Founder and CEO of Accelerate. “We are launching what we believe to be the world’s first carbon-negative investment fund.”
“Environmental, social and governance (“ESG”) concerns are top of mind for investors. From an ESG perspective, historically, bitcoin has had a mixed track record. However, bitcoin’s distributed authority and immutable blockchain grant it strong attributes from a governance perspective. We believe the fact that bitcoin provides easy access to a predictable supply of truly sovereign money that cannot be manipulated by central banks or inflated by governments makes bitcoin one of the strongest ranking assets from a social perspective.”
“However, given the bitcoin blockchain’s energy-intensive proof of work algorithm, the asset ranks poorly from an environmental perspective. Today, Accelerate changes this negative environmental outcome by offering a way to obtain exposure to bitcoin while benefiting the environment.”
Accelerate, as manager of ABTC, implements a novel and climate-positive decarbonisation initiative. Accelerate works with a leading third-party environmental specialist to execute a global tree-planting campaign to sequester carbon emissions and help fight climate change. Up to 10% of ABTC’s 0.69% management fee will be allocated to Accelerate’s annual tree-planting campaign. The initial decarbonisation initiative will be focused on planting mangrove trees in Madagascar.
For each $1,000 investment in ABTC, approximately one net tonne of carbon dioxide is expected to be sequestered per year.
“The Accelerate Carbon-Negative Bitcoin ETF allows investors to diversify their portfolios while helping to fight climate change.”
Buy Bitcoin, Save the Planet! Visit investABTC.com for more information
About Accelerate Financial Technologies Inc.
Accelerate is one of Canada’s most innovative and fastest growing alternative investment solution providers, with a suite of institutional-caliber alternative ETFs for investors seeking diversification and long-term performance.
Accelerate is empowering investors. Find out more at www.AccelerateShares.com
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to ABTC or Accelerate. The forward-looking statements are not historical facts but reflect Accelerate’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Accelerate believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Accelerate undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors that affect this information, except as required by law.
For media and investor inquiries:
Contact Accelerate at 1-855-892-0740 (toll-free), email@example.com or
Contact Michael Lee Hing, COO, Accelerate, (403) 975-5294, firstname.lastname@example.org