Many investors in the US are looking for a Bitcoin ETF. In Canada, one of the Accelerate Financial investment firms has been approved. Meanwhile, SEC Commissioner Pierce gives US investors hope.
Countless investors sit on red-hot coals when it comes to Bitcoin ETFs in the USA
Some applications from well-known institutions have already been received. It remains to be seen how the US Securities and Exchange Commission will decide in these cases. So far, however, the stance has been rather restrictive due to the lack of regulatory provisions.
But now the Americans have come before the neighboring country Canada. An exchange-traded Bitcoin fund of the investment company Accelerate Financial was approved there. This makes it the first officially approved Bitcoin ETF in North America after the Ontario Securities Commission gave the institutional product the green light. The decision document was approved on Thursday, February 11th. The preliminary prospectus for the Accelerate Bitcoin ETF (ABTC) had only been submitted to the Canadian securities regulator on February 2 .
Bitcoin was one of the best asset classes on a 1-year, 3-year, 5-year, and 10-year basis, both in absolute terms and on a risk-adjusted basis. Given Bitcoin’s historic track record and future potential, as well as its portfolio diversification properties, we look forward to offering investors exposure to this asset class in an easy-to-use, low-cost ETF.
This was announced by the founder and CEO of Accelerate Julian Klymochko.
SEC Commissioner Pierce endorses Bitcoin ETP
When could it be so far in the USA? Most recently, SEC Commissioner Hester Peirce had made a promising statement on Coin Desk TV , which only referred to ETPs. This already exists several times in Europe, a current example comes from Switzerland . ETP is the generic term for a whole range of exchange-traded investment products, which include Exchange Traded Funds (ETFs), Exchange Traded Commodities (ETCs) and Exchange Traded Notes (ETNs). However, ETFs are the only one of these investments to be considered special assets and therefore also protect investors from the insolvency of the investment company.
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For many crypto fans, Peirce is considered a kind of hopeful at the SEC. It is not for nothing that she is nicknamed “crypto mom”. She pointed out how much people were already craving crypto-based and publicly traded investment products,
and so if we don’t give them the natural way which I think would be an ETP, they will look for other (less optimal) ways to do it.
SEC Commissioner Peirce cannot understand the arguments of many monetary authorities who link criminal machinations with crypto currencies.