Accelerate Launches Accelerate Carbon-Negative Bitcoin ETF on the TSX
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.
For further information: For media and investor inquiries: contact Accelerate at 1-855-892-0740 (toll-free), info@acceleratefintech.com or contact Michael Lee Hing, COO, Accelerate, (403) 975-5294, mleehing@acceleratefintech.com
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