by Rushali 
An investment firm Accelerate Financial has been approved to launch a bitcoin exchange-traded fund (ETF) in Canada.
The Ontario Securities Commission has approved the first-ever bitcoin ETF in North America.
On Feb 11 Thursday the document was approved and covers the following territories;
British Columbia, Alberta, Saskatchewan, Manitoba, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador, Northwest Territories, Yukon, and Nunavut.
The company has filled and obtained the receipt for a preliminary prospectus from Canadian securities regulators for the Accelerate Bitcoin ETF (ABTC) on Feb 2.
The fund will offer units in both U.S and Canadian dollars with a 0.7% management fee and they are going to list it at Toronto Stock Exchange.
Julian Klymochko the CEO and founder of Accelerate has said that by looking the bitcoin’s performance in the last few years and the future potential they are looking forward to exploring that.
The company also launched recently OneChoice Alternative Portfolio ETF which is the country’s first fund to provide single-ticket exposure to multiple alternative asset classes and investment strategies including Bitcoin, gold, arbitrage, and private credit.
