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EXCLUSIVE (Part 2): Fool Q&A With Evolve ETF CIO & COO Image source: Getty Images
Here’s part two of our series covering an interview with Elliot Johnson, CIO and COO of the
Evolve Ether ETF (TSX:ETHR).
Fool: Could you talk a bit more about how this ETF is structured? It appears from initial disclosures that this ETF will track Ether directly. If you could provide some colour on how holdings are stored (the Gemini custodian deal) for less-sophisticated cryptocurrency investors, that would be great.
Evolve: Our Ether ETF will only hold Ether. When a dealer needs to create more ETHR ETF units, they send cash to the fund. We wire that cash directly to Gemini Trust, where it is used to buy Ether and then transferred to what is known as a “cold wallet.” That’s the technical term for a computer that has never been, and will never be, connected to the internet, so it can’t be hacked. Gemini is regulated by the New York State Department of Financial Serv