CALGARY, AB, Aug. 31, 2021 /CNW/ - Accelerate Financial
Technologies Inc. ("Accelerate") is pleased to announce the launch
of Accelerate Carbon-Negative Bitcoin ETF ("ABTC"). ABTC has closed
the initial offering of Canadian-dollar-denominated units (the
"Units"), and the Units will start trading on the Toronto Stock
Exchange ("TSX") today under the ticker symbol "ABTC". The Units
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 – we are launching what
we believe to be the world's first carbon-negative investment fund"
said Julian Klymochko, Founder and
CEO of Accelerate.
"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 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
decarbonization 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.
"Accelerate Carbon-Negative Bitcoin ETF allows investors to
diversify their portfolios while helping to fight climate
change."
The final prospectus of ABTC dated July
29, 2021 also qualified for distribution U.S. dollar
denominated units of ABTC (the "USD Units"). The USD Units are not
being listed by Accelerate at this time.
Visit investABTC.com for more information.
About ABTC
Brokerage fees and expenses all may be associated with an
investment in exchange traded funds ("ETFs"). Please read the
prospectus or ETF Facts document before investing. ETFs are not
guaranteed, their values change frequently and past performance may
not be repeated. ETF units are bought and sold at market price on a
stock exchange and brokerage commissions will reduce returns.
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.
SOURCE Accelerate Financial Technologies Inc.