Canada’s Evolve Funds Group is making all necessary moves when it comes to launching crypto ETFs in the market. On Wednesday, September 29, Evolve announced the country’s first multi-crypto ETF.
The idea is to diversify exposure to other cryptocurrencies instead of having a particular crypto-focused ETF. Dubbed as the Evolve Cryptocurrencies ETF, this is a market-cap weighed fund both Bitcoin (BTC) and Ethereum (ETH).
The fund has 68% of its holdings in Bitcoin and the rest 32% holdings in Ethereum. Interestingly, this multi-crypto ETF will seek exposure to Bitcoin and Ether by holdings shares of the Evolve Bitcoin ETF (EBIT) and the Evolve Ether ETF (ETHR). This multi-crypto fund will have no management fees but the underlying ETFs do attract a 0.75% management fee.
Shares of the Evolve Cryptocurrencies ETF have started trading on the Toronto Stock Exchange (TSX) under the ticker symbol ETC. Speaking to Wealth Professional, Raj Lala, Evolve’s President and CEO, praised the Ontar
Źródło: https://coingape.com/u-s-keeps-waiting-canadas-evolve-launches-first-multi-crypto-etf/
