TORONTO, February 16, 2021 – Evolve Funds Group Inc. (“Evolve”) is pleased to announce that it has filed a final prospectus to launch the Bitcoin ETF (“EBIT” or the “ETF”). EBIT is one of the world’s first physically settled Bitcoin ETFs and will launch on the Toronto Stock Exchange (“TSX”), subject to TSX approval. EBIT is designed to provide investors with exposure to the world’s leading cryptocurrency bitcoin, by investing directly in bitcoin.

“The Bitcoin ETF is exciting news for investors,” says Raj Lala, President and CEO, Evolve ETFs. “Investors will be able to trade bitcoin on a regulated stock exchange. It will be as simple as buying shares through their bank or brokerage. Unlike the technical challenges of investing in bitcoin, units of EBIT will be safely transacted via a familiar brokerage investing platform. EBIT will provide daily liquidity, transparency and security for directly purchasing bitcoin through a regulated ETF structure.”

EBIT will provide investors with exposure to the daily price movements of the U.S. dollar price of bitcoin. The ETF will not seek exposure through derivatives or futures contracts and will be backed directly by physically settled bitcoin holdings. The ETF’s daily NAV will be based on the CME CF Bitcoin Reference Rate, a once-a-day benchmark index price for bitcoin denominated in U.S. dollars.

Bitcoin ETF TSX Symbol
Unhedged ETF Units EBIT
USD Unhedged Units EBIT.U

 

“EBIT will directly own bitcoin on the Bitcoin blockchain in a cold wallet,” says Elliot Johnson, Chief Investment Officer and Chief Operating Officer, Evolve ETFs. “Investors will have confidence in the secure investment process for the Bitcoin ETF. We are very pleased to be working with best-in-class cryptocurrency experts including, Gemini Trust Company, CF Benchmarks, Cidel Trust Company, and CIBC Mellon.”        

Related Link: http://www.newswire.ca/en/releases/archive/February2021/16/c0630.html

About Evolve Funds Group Inc.

With $1.7 billion in assets under management, Evolve is one of Canada’s fastest growing ETF providers since launching its first ETF in September 2017.  Evolve is a leader in thematic ETFs and specializes in bringing disruptive innovation ETFs to Canadian investors.  Evolve’s suite of ETFs provide investors with access to: (i) long term investment themes; (ii) index-based income strategies; and (iii) some of the world’s leading investment managers.  Established by a team of industry veterans with a proven track record of success, Evolve creates investment products that make a difference.  For more information, please visit www.evolveetfs.com.

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Commissions, management fees and expenses all may be associated with exchange traded funds (ETFs). ETFs are not guaranteed, their values change frequently and past performance may not be repeated. There are risks involved with investing in ETFs. Please read the prospectus for a complete description of risks relevant to ETFs. Investors may incur customary brokerage commissions in buying or selling ETF. Please read the prospectus before investing.

Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to a future outlook and anticipated distributions, events or results and may include statements regarding future financial performance. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “anticipate”, “believe”, “intend” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Evolve undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law.

CF Benchmarks Ltd Index Data is used under license as a source of information for certain Evolve Funds Group Inc. products. CF Benchmarks Ltd and its agents have no other connection to Evolve Funds Group Inc.  products and services and do not sponsor, endorse, recommend or promote any Evolve Funds Group Inc. products or services. CF Benchmarks and its agents have no obligation or liability in connection with the Evolve Funds Group Inc. products and services. CF Benchmarks and its agents do not guarantee the accuracy and/or the completeness of any index licensed to Evolve Funds Group inc. and shall not have any liability for any errors, omissions, or interruptions therein.

 

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Evolve ETFs                                                                                                                                  Keith Crone

info@evolveetfs.com                                                                                                                   kcrone@evolveetfs.com

1.844.370.4884                                                                                                                            416.966.8716

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