About Evolve Funds Group Inc.
Evolve, a provider of exchange-traded funds (ETFs), has experienced one of Canada’s quickest rates of growth since introducing its first ETF in September 2017. It currently manages about $2 billion in assets. Canadian investors can purchase disruptive innovation ETFs through Evolve, a market leader in thematic ETFs. The range of ETFs offered by Evolve give investors access to 1. disruptive innovation etf 2. Equity income etf 3.Fixed income etf 4. High Interest Savings Account Fund 5. Cryptocurrency etf. Evolve was founded by a group of seasoned professionals with a successful track record.
| Founded | 2017 | Contact | info@evolveetfs.com t. 416.2144884 tf. 1844.3704884 |
| Founder | Raj Lala | Headquarter | 40 King Street West, Suite 3404 Toronto ON M5H 3Y2 |
| Website | www.evolveetfs.com | Type | Privately Held |
| Click here | Click here |
What Is Evolve Bitcoin ETF?
This could be your chance to invest in Bitcoin without fear of losing your private keys or being hacked. In terms of client experience, the Bitcoin ETF’s purpose is straightforward and comparable to that of other ETFs.
Furthermore, it suggests that you do not need to open an account with a cryptocurrency exchange because ETFs are available through your existing brokerage accounts. You now own shares in the ETF, which owns physically settled Bitcoin in the same way that commodities funds do.
On the Toronto Stock Exchange, the Evolve Bitcoin ETF is listed under two different tickers:
EBIT-Unhedged exposure to the daily price movement of bitcoin in CAD
| TICKER | EBIT | Option Available | Yes – Montréal Exchange |
| ISIN | CA09175J1084 | Chart | Click here |
| Bloomberg | EBIT CN Equity | Expense ratio | 0.75% (plus applicable sales taxes) |
| Currency Hedged | Yes | Leverage | No |
| Base currency | CAD | Fund structure | Open-end Fund |
EBIT.U-Exposure to the daily price movements of bitcoin in USD.
| TICKER | EBIT.U | Option Available | Yes – Montréal Exchange |
| ISIN | CA09175J1167 | Chart | Click here |
| Bloomberg | EBIT/U CN Equity | Expense ratio | 0.75% (plus applicable sales taxes) |
| Currency Hedged | Yes | Leverage | No |
| Base currency | CAD | Fund structure | Open-end Fund |
What Does Evolve Bitcoin ETF Invest In?
The ETF purchases and keeps physical bitcoin. The investor owns the ETF that holds bitcoin.
Is the ETF’s Bitcoin stored in a “cold wallet”?
Gemini Trust Company, LLC, a regulated and licenced bitcoin custodian, will hold the ETF’s bitcoin in cold storage. Gemini uses segregated cold storage bitcoin addresses for the ETF, which are distinct from the bitcoin addresses used by Gemini for its other customers. and which are readily provable via the Bitcoin blockchain Gemini will always record and identify In its books and records, the ETF states that such bitcoins are its property.
Who Should Consider this ETF?
Investors who want exposure to Bitcoin and daily price swings in USD or CAD must be willing to accept a high level of investment risk, be able to take a loss on all or part of their investment, and hold their investment for a long period (i.e. you have the capacity to absorb a loss of some or all of your investment).
Can I exchange ETF units for actual bitcoin?
No, ETF units can be sold on the TSX.
How is the ETF’s Net Asset Value (NAV) calculated?
The ETF’s Net Asset Value (NAV) will be computed using the CME CF Bitcoin-Dollar Reference Rate. On each trading day, the NAV is determined at 11:00 a.m. (ET).
Evolve Bitcoin ETF Details.
| Issuer | Evolve Funds Group Inc. | prospectus | Click here |
| Fund Administrator | CIBC Mellon Global Securities Services Company | SUB-CUSTODIAN | Gemini Trust Company, LLC |
| Auditor | Ernst & Young LLP | REGISTRAR & TRANSFER AGENT | TSX Trust Company |
| Management strategy | Passively managed | Exchange | Toronto Stock Exchange |
| Legal structure | ETF | MINIMUM INVESTMENT | NO |
| Protfolio | Click here | INDEX PROVIDER | CF Benchmarks Ltd |
| ETF Facts | Click here | Fund Manager | Evolve Funds Group Inc. |
| Fund currency | CAD or USD | Jurisdiction | Canada |
| Inception/ Listing Date | February 19, 2021 | Total Expense Ratio | 0.75% (plus applicable sales taxes) |
Cryptocurrency ownership vs. cryptocurrency exchange-traded funds.
Cryptocurrency ETF values move in line with the currencies they track. However, they have different advantages and disadvantages when compared to direct cryptocurrencies investment
Pros of Evolve Bitcoin ETF
• Etf are less difficult to invest in than cryptocurrency:
ETF can be purchased, sold, and held in traditional brokerage accounts. Etf do not necessitate the creation of a digital wallet, the password for which may be forgotten.
ETF are issued by regulated businesses, the risk of fraud, scandals, or collapses connected with cryptocurrency investments is reduced.
cryptocurrency ETFs are regulated by some governments, making them eligible for investments through government-regulated tax plans, such as the Canadian Registered Retirement Savings Plan (RRSP) and the Tax Free Savings Account (TFSA), which allow users to invest in crypto ETFs while reaping tax benefits.
Cons of Evolve Bitcoin ETF
Bitcoin is a very volatile asset, which means that its value can fluctuate substantially in a short amount of time. This volatility translates into a high level of risk.
Fees for Cryptocurrency funds are typically higher than those for standard Etf.
Crypto assets trade 24 hours a day, crypto etfs only trade during market hours.
Naren is a finance graduate who is passionate about cryptocurrency and blockchain technology. He demonstrates his expertise in these subjects by writing for cryptoetf.in. Thanks to his finance background, he is able to write effectively about cryptocurrency.