A preliminary prospectus for a brand new bitcoin exchange-traded fund (ETF) has been filed with Canada’s securities regulators.
Funding agency Speed up Monetary Applied sciences announced Wednesday it’s looking for approval to listing the Speed up Bitcoin ETF on the Toronto Inventory Trade (TSX) underneath the ticker “ABTC.”
The ETF would provide models denominated in each the U.S. greenback and Canadian greenback, with a administration charge of 0.70%.
“Bitcoin has been one of many best-performing asset courses on a 1-year, 3-year, 5-year, and 10-year foundation, each absolute and risk-adjusted,” in accordance with Julian Klymochko, founder and CEO of Speed up.
“Given bitcoin’s historic monitor document and future potential, together with its portfolio diversification properties, we’re trying ahead to providing traders publicity to the asset class in an easy-to-use, low-cost ETF,” he mentioned.
Speed up isn’t the one firm hoping to get a bitcoin ETF listed in Canada. On Jan. 13, Arxnovum Investments Inc. filed documents for the Arxnovum Bitcoin ETF, additionally deliberate to listing on the TSX.
Over within the neighboring U.S., after a number of rejections of previous bids for bitcoin ETFs by the Securities and Trade Fee, two new functions, from VanEck and Valkyrie, have been filed since December 2020.