{"id":427021,"date":"2021-08-18T14:22:13","date_gmt":"2021-08-18T18:22:13","guid":{"rendered":"https:\/\/www.investmentexecutive.com\/?p=427021"},"modified":"2021-08-18T14:22:13","modified_gmt":"2021-08-18T18:22:13","slug":"evolve-files-preliminary-prospectus-for-multi-crypto-etf","status":"publish","type":"post","link":"https:\/\/www.investmentexecutive.com\/news\/products\/evolve-files-preliminary-prospectus-for-multi-crypto-etf\/","title":{"rendered":"Evolve files preliminary prospectus for multi-crypto ETF"},"content":{"rendered":"<p>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<p>The Evolve Cryptocurrencies ETF will\u00a0provide investors with indirect exposure to certain cryptocurrencies selected by the fund&#8217;s manager, weighted on a market capitalization basis and rebalanced monthly, the release said.<\/p>\n<p>The fund will initially invest in two Evolve crypto funds launched earlier this year, <a href=\"https:\/\/www.investmentexecutive.com\/news\/products\/evolve-set-to-launch-its-bitcoin-etf\/\">Bitcoin ETF<\/a> and <a href=\"https:\/\/www.investmentexecutive.com\/news\/products\/multiple-direct-custody-ether-etfs-coming-to-market\/\">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<p>If and when Evolve has other cryptocurrency ETFs available, they may be added to the new fund at the manager&#8217;s discretion, making the new fund &#8220;a potential\u00a0turnkey solution for cryptocurrency investing,&#8221; said Raj Lala, president and CEO of Evolve ETFs, in the release.<\/p>\n<p>The applicable management fees will be those of the underlying funds. Currently, Bitcoin ETF and Ether ETF each have a management fee of 0.75% of net asset values, plus sales taxes.<\/p>\n<p>The\u00a0Evolve Cryptocurrencies ETF will offer both U.S.-dollar- and Canadian-dollar-denominated unhedged units. It\u00a0won&#8217;t use leverage nor pay regular cash distributions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The new fund will, to start, provide indirect exposure to Bitcoin and Ether<\/p>\n","protected":false},"author":176169,"featured_media":421599,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2315,2312],"tags":[2474,36184,87170],"yst_prominent_words":[24739,87538,87537,87536,87535,87534,87533,87532,77975,76545,26417,10,16340,10839,10817,10416,6428,4871,4028,1696],"acf":[],"_links":{"self":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/427021"}],"collection":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/users\/176169"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/comments?post=427021"}],"version-history":[{"count":3,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/427021\/revisions"}],"predecessor-version":[{"id":427030,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/427021\/revisions\/427030"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media\/421599"}],"wp:attachment":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media?parent=427021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/categories?post=427021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/tags?post=427021"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=427021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}