09.30.2021

Canada Launches First Multi-Cryptocurrency ETF

09.30.2021

Evolve Funds Group Inc. is pleased to announce that it has filed the final prospectus with Canadian securities regulators in plans to launch Canada’s first multi-cryptocurrency ETF. The Evolve Cryptocurrencies ETF is expected to begin trading on Wednesday, September 29, 2021 on the Toronto Stock Exchange (“TSX“), subject to TSX approval. ETC is designed to provide investors with one convenient way to obtain exposure to bitcoin and ether, on a market capitalization basis, through an ETF structure.

“Bitcoin has established itself as a store of value and is often referred to as digital gold,” says Raj Lala, President and CEO, Evolve ETFs. “Ether is often referred to as digital oil and has become an essential building block for digital finance including NFTs and other DeFi applications. Together, bitcoin and ether make up about 65% of the total crypto market capitalization. Now investors can access both in one ETF solution.”

ETC seeks to provide investors with exposure to the daily price movements of certain digital assets selected by the Manager from time to time, on a market capitalization basis, while experiencing minimal tracking error by investing in other publicly offered investment funds managed by Evolve. ETC intends to initially invest in Bitcoin ETF (“EBIT“) and Ether ETF (“ETHR“) based on their respective market capitalization weightings, based on the methodology employed by CF Benchmarks. The portfolio will be rebalanced monthly. ETC will not use leverage and does not intend to pay regular cash distributions.

The following chart sets out the TSX ticker symbols for ETC:

CAD Unhedged Units USD Unhedged Units
ETC ETC.U

With combined assets over $185 million, EBIT and ETHR provide investors with exposure to the daily price movements of the U.S. dollar price of Bitcoin and Ether, respectively, by utilizing the benefits of the creation and redemption processes offered by the exchange traded fund structure. EBIT‘s holdings are priced based on the CME CF Bitcoin Reference Rate, a once-a-day benchmark index price for bitcoin denominated in U.S. dollars, while ETHR‘s holdings are priced based on the CME CF Ether-Dollar Reference Rate, a once-a-day benchmark index price for ether denominated in U.S. dollars. Both indices are administered by benchmark administrator, CF Benchmarks.

“While ether and bitcoin can trend in a similar direction, their returns can vary substantially, which makes the case for investors owning a diversified strategy within the asset class,” says Elliot Johnson, Chief Investment Officer and Chief Operating Officer, Evolve ETFs. “The path of returns between bitcoin and ether often cause dramatically different outcomes for investors depending upon their holding period.” According to Bloomberg in 2020, ether outperformed bitcoin by over 150%; however, in 2019, ether’s performance was negative while bitcoin delivered over 90% return.

No management fees will be payable on ETC, however, the underlying investment funds held by the Fund will pay management fees. Currently, the management fees on EBIT and ETHR are 0.75% of net asset values, plus applicable sales taxes.

Source: Evolve

HSBC AI Markets harnesses natural language processing to meet market participants’ trading and hedging needs, from pre-trade analysis, to execution, to post-trade. Markets Media caught up with Tom Croft to learn more about the platform.

#AIMarkets

“Portfolio trading is a massive improvement in efficiency.”

What impact do you think portfolio trading will have on the future of bond market structure?

#PortfolioTrading #Trading

Asset owners are investing heavily in data, from AI to ESG to real-time tools.
What’s the top priority for the data suite? 👇

#AssetOwners #FinTech #AI #ESG #Data

At #TradeTechFX Barcelona this week, LMAX Group Managing Director of Digital Assets, Jenna Wright, joins @TheBondDESK @marketsmedia to discuss how FX desks are adapting to the rise of digital assets.

She’ll explore market convergence, regulation and the investor opportunities…

Load More

Related articles

  1. Source Targets Retail ETF Investors

    Retail assets in private markets represent a $1.7 trillion opportunity.

  2. U.S. Sell-Side Equities Business in Focus

    Investors are demanding liquidity, co-investment and bespoke solutions.

  3. Trading Europe From ‘Across the Pond’

    The European private credit market has developed significantly in recent years.

  4. Fair Access Central to Market Review

    ETFs can democratize access to private markets but liquidity is a challenge.

  5. Morgan Stanley will be the first to implement this new AI-powered capability.

We're Enhancing Your Experience with Smart Technology

We've updated our Terms & Conditions and Privacy Policy to introduce AI tools that will personalize your content, improve our market analysis, and deliver more relevant insights.These changes take effect on Aug 25, 2025.
Your data remains protected—we're simply using smart technology to serve you better. [Review Full Terms] | [Review Privacy Policy] Please review our updated Terms & Conditions and Privacy Policy carefully. By continuing to use our services after Aug 25, 2025, you agree to these

Close the CTA