Evolve XRP ETF Begins Trading Today on TSX
TORONTO, June 18, 2025 /CNW/ - Evolve Funds Group Inc. (" Evolve" or the " Manager") is pleased to announce the Evolve XRP ETF (" XRP" or the " Evolve Fund") has closed its initial offering of units and will begin trading on the Toronto Stock Exchange (" TSX") today under the ticker symbols: XRP (CAD Units) and XRP.U (USD Units).
XRP's investment objective is to hold substantially all of its assets in physical XRP in order to provide a secure and convenient way for investors to hold the cryptocurrency in a brokerage account. To achieve its investment objectives, the Evolve Fund will invest in long-term holdings of XRP, purchased through Coinbase and/or other reputable XRP trading platforms and OTC counterparties, in order to provide investors with a convenient, secure alternative to a direct investment in XRP.
The Evolve Fund 's portfolio will be priced based on, and the Evolve Fund 's NAV will be calculated using, the CME CF XRP-Dollar Reference Rate. The CME CF XRP-Dollar Reference Rate is published every day of the year and is available on major vendor platforms such as Bloomberg and Reuters.
The Evolve Fund is offering the following units:
XRP will not use derivatives and does not intend to pay regular cash distributions. The Evolve Fund does not seek to hedge any foreign currency exposure in respect of either the USD Units or the CAD Units.
As it is the Evolve Fund 's intention to invest in XRP on a passive basis, the Evolve Fund will not speculate with regard to changes in XRP prices. Purchases of XRP will generally only be undertaken by the Evolve Fund in response to subscriptions, and sales of XRP will generally only be undertaken by the Evolve Fund as required in order to fund expenses and redemptions.
About Evolve Funds Group Inc.
With $7 billion in assets under management, Evolve specializes in bringing innovative ETFs to Canadian investors. Evolve's suite of ETFs provide investors with access to: (i) index-based income strategies; (ii) long term investment themes; and (iii) some of the world's leading investment managers. Established by a team of industry veterans with a demonstrated ability to succeed, Evolve creates investment products that make a difference. Learn more at www.evolveetfs.com.
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Evolve Funds Group Inc. is the investment fund manager and portfolio manager. Evolve XRP ETF ("XRP") will be offered by Evolve Funds Group Inc., and distributed through authorized dealers.
The information contained herein is a general description and is not intended to be specific investment advice to any particular investor nor intended to be investment or tax advice. You should not act or rely on the information contained herein without seeking the advice of an appropriate professional advisor.
The unpredictable nature of the cryptoassets can lead to loss of funds.
Commissions, trailing commissions, management fees and expenses all may be associated with exchange traded funds (ETFs) and mutual funds. Please read the prospectus before investing. ETFs and mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Investors may incur customary brokerage commissions in buying or selling ETF and mutual fund units. Investors should monitor their holdings, as frequently as daily, to ensure that they remain consistent with their investment strategies.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to a future outlook and anticipated distributions, events or results and may include statements regarding future financial performance. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "anticipate", "believe", "intend" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Evolve undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law.
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