Evolve Bitcoin ETF (TSX:EBIT) Debuts On TSX

February 20, 2021 02:03 AM AEDT | By Anuj

Evolve Bitcoin ETF (TSX:EBIT) Debuts On TSX

How To Invest In Bitcoin ETFs

With the launch of these ETFs, bitcoin enthusiasts now have more ways to invest in the ‘digital gold’. Trading though brokerage accounts can be considered as a regulated option for investors avoiding anonymous crypto exchanges or affiliated wallets. These ETFs also offer more protection to crypto investors as compared to digital wallets as the fund managers closely track currency movements.

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Evolve Bitcoin ETF (TSX: EBIT)

Evolve fund will offer its unitholders a daily price development of bitcoin-USD through the creation and redemption procedures provided by the ETF structure. The fund will allow its investors to hold crypto directly on the Bitcoin blockchain in a cold wallet. Gemini Trust Company, LLC has agreed to be the sub-custodian of this fund’s holdings of bitcoin.

The daily price progress will be calculated from the CME CF Bitcoin Reference Rate (BRR) for a once-a-day benchmark price for bitcoin-USD. The group stated that they would not involve in derivatives or futures contracts.

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