Evolve Funds Group Inc (Evolve) is extremely delighted to announce that they have finally filed their final prospectus in order to launch the Bitcoin ETF (EBIT or ETF). EBIT is going to be the world’s first physically settled Bitcoin ETF and will be launched on the Toronto Stock Exchange with the approval of TSX.
EBIT is designed to offer investors exposure to Bitcoin after they directly invest in BTC.
Bitcoin ETF Brings Good News For Investors
Raj Lala, CEO, and President of Evolve has stated that the investors will be able to invest and trade Bitcoin on a regulated stock exchange. The process will be very simple and similar to purchasing shares from banks or brokerages.
However, there are technical challenges to investing in BTC but the units of Bitcoin ETF will be securely transacted through a known brokerage investing platform. EBIT will be offering daily liquidity, security, and transparency for the direct purchase of BTC via a regulated Bitcoin ETF structure.
EBIT is providing investors information and access to the regular price activities of the USD/BTC. The ETF will not ask for exposure via derivatives or futures contracts and will be supported directly by the physically settled BTC holdings.
The daily NAV of the ETF will be based on CME CF BTC Reference Rate that is a once-a-day benchmark index price for BTC denominated in US dollars.
The officials of Evolve have also informed that EBIT will be directly owning BTC blockchain in a cold wallet. Investors will be having confidence in the safe investment process for Bitcoin ETF. They feel very happy and satisfied by working with the leading cryptocurrency experts such as Gemini Trust Co., CF Benchmarks, CIBC Mellon Services, and Cidel Trust Co.
