Canada markets closed
  • S&P/TSX

    21,058.18
    -146.98 (-0.69%)
     
  • S&P 500

    4,482.73
    -50.03 (-1.10%)
     
  • DOW

    34,715.39
    -313.26 (-0.89%)
     
  • CAD/USD

    0.7985
    -0.0014 (-0.18%)
     
  • CRUDE OIL

    86.29
    -0.61 (-0.70%)
     
  • BTC-CAD

    48,838.89
    -3,982.91 (-7.54%)
     
  • CMC Crypto 200

    921.30
    -73.97 (-7.43%)
     
  • GOLD FUTURES

    1,842.10
    -0.50 (-0.03%)
     
  • RUSSELL 2000

    2,024.04
    -38.75 (-1.88%)
     
  • 10-Yr Bond

    1.8330
    +0.0060 (+0.33%)
     
  • NASDAQ futures

    14,648.00
    -193.00 (-1.30%)
     
  • VOLATILITY

    25.59
    +1.74 (+7.30%)
     
  • FTSE

    7,585.01
    -4.65 (-0.06%)
     
  • NIKKEI 225

    27,360.60
    -412.33 (-1.48%)
     
  • CAD/EUR

    0.7047
    -0.0020 (-0.28%)
     

Evolve Funds Files for Crypto ETF in Canada

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • ETH-USD
  • BTC-USD

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

  • The Evolve Cryptocurrencies ETF would give investors “indirect exposure” to certain cryptocurrencies selected by an investment manager, weighted on a market cap basis and rebalanced monthly, the firm said in a press release.

  • Purpose Investment was the first firm to receive OSC approval and launch a bitcoin ETF in North America. Evolve is Canada’s second ETF issuer to have a bitcoin ETF approved by the OSC to trade on the Toronto Stock Exchange.

  • On April 16, three ether ETFs, launched by Purpose Investments, CI Global Asset Management and Evolve ETFs, all received approval. The began trading on the TSX on April 20.

  • Investors in Canada can hold cryptocurrencies in their brokerage account, including their Registered Retirement Savings Plan (RSP) and Tax-Free Savings Account (TFSA), said Raj Lala, CEO of Evolve ETFs.

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

Read more: Evolve Becomes Second Canadian Issuer to Win Approval for Bitcoin ETF

Related Stories

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting