Canada to get its first cryptocurrency ETF

Evolve Funds Group Inc. wants to offer Canada’s first cryptocurrency ETF. The company says in a release that’s it has filed a preliminary prospectus with Canadian securities regulators for a fund called Evolve Bitcoin ETF (BITS). BITS will seek to replicate the performance of exposure to Bitcoin obtained through investments in CFE Bitcoin (USD) Futures. The fund will invest directly or indirectly in exchange-traded futures contracts as well as other financial instruments and derivatives that provide similar return characteristics.

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