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Canada Approves Evolve to Launch Physically-Settled Bitcoin ETF
Canada Approves Evolve to Launch Physically-Settled Bitcoin ETF
This is the second Bitcoin ETF receiving approval in Canada.
Arnab Shome
2021-02-17T09:08:09+00:00
2021-02-17T09:36:59+00:00 Photo: FM
Evolve Funds Group Inc., has become the second Canadian company to receive regulatory approval for a Bitcoin exchange-traded fund (ETF) and is now seeking the permission of the Toronto Stock Exchange for listing.
Tuesday’s announcement detailed that the fund will be physically-settled, meaning investors will receive Bitcoins when they exit from the investments. This reduces the slippage risk, which is a major issue with the cash-settled instruments.
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