Toronto-based Evolve Funds Group Inc. has filed a preliminary prospectus for a new cryptocurrencies ETF, the firm said in a release on Wednesday.<\/p>\n
The Evolve Cryptocurrencies ETF will\u00a0provide investors with indirect exposure to certain cryptocurrencies selected by the fund’s manager, weighted on a market capitalization basis and rebalanced monthly, the release said.<\/p>\n
The fund will initially invest in two Evolve crypto funds launched earlier this year, Bitcoin ETF<\/a> and Ether ETF<\/a>. With combined assets of more than $160 million, those two funds provide exposure to the daily price movements of the U.S.-dollar price of Bitcoin and Ether, respectively.<\/p>\n