Evolve Funds Group Inc. Announces Filing of Preliminary Prospectus for Canada's First Bitcoin ETF

TORONTO, Sept. 22, 2017 /CNW/ - Evolve Funds Group Inc. ("Evolve Funds") is pleased to announce that it has filed a preliminary prospectus with the Canadian securities regulators for Canada's first cryptocurrency ETF, Evolve Bitcoin ETF ("BITS"). This new Evolve ETF is designed to provide Canadian investors with indirect exposure to the world's first decentralized currency.

"Accessing Bitcoin is not easy for many – it is a very complicated and expensive process as investors are currently unable to trade them in a regular brokerage account," said Raj Lala, President & CEO of Evolve ETFs.  "An ETF tied to the price of Bitcoin could be a simpler way for investors to participate in its growth."

BITS seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of exposure to bitcoin obtained through investments in CFE Bitcoin (USD) Futures. The Evolve ETF invests directly or indirectly in exchange-traded futures contracts and other financial instruments and derivatives that provide similar return characteristics. 

"Bitcoin effectively marries currency with technology," said Mr. Lala. "Bitcoin is an online currency that can be sent and received by anyone in the world, relying on computers to control the transfer and creation of money without human intervention.  It's the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. As more and more of the world goes digital, usage of cryptocurrencies could increase significantly in the coming years."

BITS will offer investors with both hedged and unhedged units.  Evolve Funds, a registered investment fund manager and portfolio manager, will act as promoter, manager, trustee and portfolio manager of BITS and will be responsible for the administration of BITS.

A preliminary prospectus containing important information relating to securities of the Evolve ETF has been filed with the securities commissions or similar authorities in all provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. A copy of the preliminary prospectus is available on SEDAR (www.sedar.com). There will not be any sale or acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued. 

Commissions, management fees, and expenses all may be associated with the Evolve ETFs. ETFs are not guaranteed, their values change frequently, and past performance may not be repeated. 

About Evolve Funds Group Inc.
Evolve Funds provides Canadian investors with innovative investment solutions and access to some of the world's largest investment managers. Established by a team of industry veterans, we create investment products that make a difference. For more information, please visit www.evolvefunds.com.

SOURCE Evolve Funds Group Inc.