Canada’s regulatory body Ontario Securities Commission (OSC) has approved the country’s first multi-cryptocurrency ETF filed by Evolve Funds, an asset management company in Canada.
The Evolve Cryptocurrencies ETF has completed its initial offering and begun to trade on the Toronto Stock Exchange under the ticker symbols: ETC (CAD Unhedged Units) and ETC.U (USD Unhedged Units).
The ETF would invest in Bitcoin (BTC) and Ethereum (ETH) ETFs offered by Evolve and provide investors with exposure to the daily price movements. The company will choose certain digital assets from time to time according to the assets market capitalization at a given time.
Evolve was one of Canada’s licensed companies to list Bitcoin ETFs on the Toronto Exchange on March 2. It listed Ethereum ETFs in mid-April as well. In Canada, Evolve and other major asset managers such as CI Global, 3iQ Corp, and Purpose Investments are currently managing Bitcoin and Ethereum ETFs.