07:30 ET Evolve Announces Bitcoin ETF Begins Trading on TSX - Canada NewsWire | Canada News Media
Connect with us

Business

07:30 ET Evolve Announces Bitcoin ETF Begins Trading on TSX – Canada NewsWire

Published

 on


TORONTO, Feb. 19, 2021 /CNW/ – Evolve Funds Group Inc. (“Evolve“) is pleased to announce the launch of the Bitcoin ETF (“EBIT“). EBIT has closed its initial offering of units and will begin trading on the Toronto Stock Exchange (“TSX“) today under the ticker symbol EBIT.

“The recent institutional adoption has helped further legitimize the progress of bitcoin,” says Raj Lala, President and CEO at Evolve. “Being able to offer an ETF which holds physical bitcoin is a real game changer in Canada. Now investors may participate in bitcoin via their brokerage accounts within their RRSP and TFSA. Bitcoin has proven to be a store of value that is uncorrelated to other major asset classes – and has now emerged as an asset class itself.”

EBIT will provide investors with exposure to the daily price movements of the U.S. dollar price of bitcoin by utilizing the benefits of the creation and redemption processes offered by the exchange traded fund structure. Investors in EBIT will directly own bitcoin on the Bitcoin blockchain in a cold wallet. Gemini Trust Company, LLC will act as the Sub-Custodian in respect of EBIT’s holdings of bitcoin.

“We are proud to be working with Raj and Evolve ETFs on the launch of one of the first true Bitcoin ETFs in Canada,” says David Abner, Head of Business Development at Gemini Trust Company, LLC. “Crypto presents unique challenges for fund issuers and utilizing Gemini for fund services like custody, execution and clearing provides real comfort to investors. We have a unique understanding of both the ETF and Crypto ecosystems and bring this knowledge to every product we support.”

EBIT will not seek exposure through derivatives or futures contracts. The daily NAV will be based on the CME CF Bitcoin Reference Rate, a once-a-day benchmark index price for bitcoin denominated in U.S. dollars.

“We’re proud to partner with the world’s first regulated crypto benchmark administrator, CF Benchmarks, that offers a fully transparent methodology and relies on real-time data from five Bitcoin exchanges including Gemini, itBit, Coinbase, Kraken and Bitstamp,” says Elliot Johnson, Chief Investment Officer and Chief Operating Officer at Evolve ETFs. “The world’s leading crypto currency continues to gain momentum and legitimacy as more and more institutions embrace its value and potential every day.”

EBIT is available in Canadian dollar denominated unhedged units (TSX Ticker: EBIT), and U.S. dollar denominated unhedged units (TSX Ticker: EBIT.U).

Bitcoin ETF

TSX Symbol

Unhedged Units

EBIT

USD Unhedged Units

EBIT.U

About Evolve Funds Group Inc.

With over $1.7 billion in assets under management, Evolve is one of Canada’s fastest growing ETF providers since launching its first ETF in September 2017. Evolve is a leader in thematic ETFs and specializes in bringing disruptive innovation ETFs to Canadian investors. Evolve’s suite of ETFs provide investors with access to: (i) long term investment themes; (ii) index-based income strategies; and (iii) some of the world’s leading investment managers. Established by a team of industry veterans with a proven track record of success, Evolve creates investment products that make a difference.  For more information, please visit www.evolveetfs.com

Join us on social media: Twitter | LinkedIn | Facebook

Commissions, management fees and expenses all may be associated with exchange traded funds (ETFs) and mutual funds. ETFs and mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. There are risks involved with investing in ETFs and mutual funds. Please read the prospectus for a complete description of risks relevant to ETFs and mutual funds. Investors may incur customary brokerage commissions in buying or selling ETF and mutual fund units. Please read the prospectus before investing.

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.

CF Benchmarks Ltd Index Data is used under license as a source of information for certain Evolve Funds Group Inc. products. CF Benchmarks Ltd and its agents have no other connection to Evolve Funds Group Inc.  products and services and do not sponsor, endorse, recommend or promote any Evolve Funds Group Inc. products or services. CF Benchmarks and its agents have no obligation or liability in connection with the Evolve Funds Group Inc. products and services. CF Benchmarks and its agents do not guarantee the accuracy and/or the completeness of any index licensed to Evolve Funds Group inc. and shall not have any liability for any errors, omissions, or interruptions therein.  

SOURCE Bitcoin ETF

For further information: CONTACT INFORMATION: Evolve ETFs: [email protected], t. 416.214.4884, tf. 1.844.370.4884; MEDIA CONTACT: Keith Crone, [email protected], 416.966.8716

Let’s block ads! (Why?)



Source link

Continue Reading

Business

Stop Asking Your Interviewer Cliché Questions

Published

 on

Most job search advice is cookie-cutter. The advice you’re following is almost certainly the same advice other job seekers follow, making you just another candidate following the same script.

In today’s hyper-competitive job market, standing out is critical, a challenge most job seekers struggle with. Instead of relying on generic questions recommended by self-proclaimed career coaches, which often lead to a forgettable interview, ask unique, thought-provoking questions that’ll spark engaging conversations and leave a lasting impression.

English philosopher Francis Bacon once said, “A prudent question is one half of wisdom.”

The questions you ask convey the following:

  • Your level of interest in the company and the role.
  • Contributing to your employer’s success is essential.
  • You desire a cultural fit.

Here are the top four questions experts recommend candidates ask; hence, they’ve become cliché questions you should avoid asking:

  • “What are the key responsibilities of this position?”

Most likely, the job description answers this question. Therefore, asking this question indicates you didn’t read the job description. If you require clarification, ask, “How many outbound calls will I be required to make daily?” “What will be my monthly revenue target?”

  • “What does a typical day look like?”

Although it’s important to understand day-to-day expectations, this question tends to elicit vague responses and rarely leads to a deeper conversation. Don’t focus on what your day will look like; instead, focus on being clear on the results you need to deliver. Nobody I know has ever been fired for not following a “typical day.” However, I know several people who were fired for failing to meet expectations. Before accepting a job offer, ensure you’re capable of meeting the employer’s expectations.

  • “How would you describe the company culture?”

Asking this question screams, “I read somewhere to ask this question.” There are much better ways to research a company’s culture, such as speaking to current and former employees, reading online reviews and news articles. Furthermore, since your interviewer works for the company, they’re presumably comfortable with the culture. Do you expect your interviewer to give you the brutal truth? “Be careful of Craig; get on his bad side, and he’ll make your life miserable.” “Bob is close to retirement. I give him lots of slack, which the rest of the team needs to pick up.”

Truism: No matter how much due diligence you do, only when you start working for the employer will you experience and, therefore, know their culture firsthand.

  • “What opportunities are there for professional development?”

When asked this question, I immediately think the candidate cares more about gaining than contributing, a showstopper. Managing your career is your responsibility, not your employer’s.

Cliché questions don’t impress hiring managers, nor will they differentiate you from your competition. To transform your interaction with your interviewer from a Q&A session into a dynamic discussion, ask unique, insightful questions.

Here are my four go-to questions—I have many moreto accomplish this:

  • “Describe your management style. How will you manage me?”

This question gives your interviewer the opportunity to talk about themselves, which we all love doing. As well, being in sync with my boss is extremely important to me. The management style of who’ll be my boss is a determining factor in whether or not I’ll accept the job.

  • “What is the one thing I should never do that’ll piss you off and possibly damage our working relationship beyond repair?”

This question also allows me to determine whether I and my to-be boss would be in sync. Sometimes I ask, “What are your pet peeves?”

  • “When I join the team, what would be the most important contribution you’d want to see from me in the first six months?”

Setting myself up for failure is the last thing I want. As I mentioned, focus on the results you need to produce and timelines. How realistic are the expectations? It’s never about the question; it’s about what you want to know. It’s important to know whether you’ll be able to meet or even exceed your new boss’s expectations.

  • “If I wanted to sell you on an idea or suggestion, what do you need to know?”

Years ago, a candidate asked me this question. I was impressed he wasn’t looking just to put in time; he was looking for how he could be a contributing employee. Every time I ask this question, it leads to an in-depth discussion.

Other questions I’ve asked:

 

  • “What keeps you up at night?”
  • “If you were to leave this company, who would follow?”
  • “How do you handle an employee making a mistake?”
  • “If you were to give a Ted Talk, what topic would you talk about?”
  • “What are three highly valued skills at [company] that I should master to advance?”
  • “What are the informal expectations of the role?”
  • “What is one misconception people have about you [or the company]?”

 

Your questions reveal a great deal about your motivations, drive to make a meaningful impact on the business, and a chance to morph the questioning into a conversation. Cliché questions don’t lead to meaningful discussions, whereas unique, thought-provoking questions do and, in turn, make you memorable.

_____________________________________________________________________

 

Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers “unsweetened” job search advice. You can send Nick your questions to artoffindingwork@gmail.com.

Continue Reading

Business

Canadian Natural Resources reports $2.27-billion third-quarter profit

Published

 on

 

CALGARY – Canadian Natural Resources Ltd. reported a third-quarter profit of $2.27 billion, down from $2.34 billion in the same quarter last year.

The company says the profit amounted to $1.06 per diluted share for the quarter that ended Sept. 30 compared with $1.06 per diluted share a year earlier.

Product sales totalled $10.40 billion, down from $11.76 billion in the same quarter last year.

Daily production for the quarter averaged 1,363,086 barrels of oil equivalent per day, down from 1,393,614 a year ago.

On an adjusted basis, Canadian Natural says it earned 97 cents per diluted share for the quarter, down from an adjusted profit of $1.30 per diluted share in the same quarter last year.

The average analyst estimate had been for a profit of 90 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Oct. 31, 2024.

Companies in this story: (TSX:CNQ)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Business

Cenovus Energy reports $820M Q3 profit, down from $1.86B a year ago

Published

 on

 

CALGARY – Cenovus Energy Inc. reported its third-quarter profit fell compared with a year as its revenue edged lower.

The company says it earned $820 million or 42 cents per diluted share for the quarter ended Sept. 30, down from $1.86 billion or 97 cents per diluted share a year earlier.

Revenue for the quarter totalled $14.25 billion, down from $14.58 billion in the same quarter last year.

Total upstream production in the quarter amounted to 771,300 barrels of oil equivalent per day, down from 797,000 a year earlier.

Total downstream throughput was 642,900 barrels per day compared with 664,300 in the same quarter last year.

On an adjusted basis, Cenovus says its funds flow amounted to $1.05 per diluted share in its latest quarter, down from adjusted funds flow of $1.81 per diluted share a year earlier.

This report by The Canadian Press was first published Oct. 31, 2024.

Companies in this story: (TSX:CVE)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending

Exit mobile version