After Listing Bitcoin and Ether ETFs, Evolve Funds Now Files for Canada’s First Multi-Crypto ETF

2021-8-19 16:30

Evolve Funds Group has filed a preliminary prospectus with the Ontario Securities Commission (OSC) for a new cryptocurrencies exchange-traded fund (ETF).

Through this multi-crypto ETF, the Toronto-based fund will offer investors indirect exposure to certain cryptocurrencies selected by the investment manager and weighted on a market cap basis that will be rebalanced monthly, according to the press release.

It will offer both US dollar and Canadian dollar-denominated unhedged units and won't be using leverage or pay regular cash distributions.

The Evolve Cryptocurrencies ETF will predominantly hold Bitcoin and Ether by initially investing in two of its crypto funds, Bitcoin ETF and Ether ETF (ETHR), launched their year that trade on the Toronto Stock Exchange (TSX). Its Bitcoin ETF (EBIT) has nearly $100 million worth of assets, while Ether ETF (ETHR) has more than $71 million.

These ETFs allow investors to hold cryptocurrencies in their brokerage account, including their Registered Retirement Savings Plan (RSP) and Tax-Free Savings Account (TFSA).

The fund may add other cryptocurrency ETFs if and when they get available, making the new fund “a potential turnkey solution for cryptocurrency investing,” said Raj Lala, president, and CEO of Evolve ETFs, in a statement.

“With the Evolve Cryptocurrencies ETF, investors will be able to take a broader approach by allocating to cryptocurrencies based on their market cap weightings.”

Evolve will be charging the same management fees as to the underlying funds, which is 0.75% of net asset values plus sales taxes.

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Evolve Files for a Ethereum ETF After Launching its Bitcoin ETF Last Month

Evolve Funds Group has filed for an Ether exchange-traded fund (ETF) with the Canadian Securities regulators. After launching the Bitcoin ETF (EBIT) on the Toronto Stock exchange, just a day after the first Bitcoin exchange-traded fund ever — Purpose Bitcoin ETF which gained the first-mover advantage and raised $421 million in just two days of […] The post Evolve Files for a Ethereum ETF After Launching its Bitcoin ETF Last Month first appeared on BitcoinExchangeGuide.

2021-3-3 20:22


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В Канаде одобрили второй биткоин-ETF

Комиссия по ценным бумагам провинции Онтарио (OSC) выдала разрешение управляющей компании Evolve Funds Group на запуск ее биржевого инвестиционного фонда (ETF) на базе первой криптовалюты. Evolve ETFs will soon be bringing one of the world’s first Bitcoin ETFs to market.

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2019-6-26 10:24