Evolve Funds seeks to launch an Ethereum-based ETF

Evolve Funds has filed to launch an Ethereum-based exchange-traded fund (ETF).

Evolve files preliminary prospectus for Ether ETF — Read the press release here: https://t.co/KGwqUnP0nS pic.twitter.com/VSySTBjLhO

— Evolve ETFs (@EvolveETFs) March 2, 2021

According to the filing, the custodian for the new product will be Cidel Trust Company, and the sub-custodian — Gemini Custody of the Winklevoss brothers. If approved, the ETF would be listed on the Toronto Stock Exchange.

What is a cryptocurrency ETF?

Earlier, the Ontario Securities Commission granted approval for Evolve Funds Group to launch a Bitcoin-based ETF.

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