Evolve Bitcoin (USD Unhedged Units) 

This investment fund is structured for passive management, directly allocating capital to Bitcoin. Its substantial Bitcoin assets are procured for enduring ownership via channels including Gemini NuSTAR LLC, various well-regarded cryptocurrency exchanges, and direct over-the-counter transactions. The portfolio's value is ascertained by the CME Group and Crypto Facilities Bitcoin Reference Rate (CME CF BRR), a once-daily benchmark index that expresses Bitcoin's price in US dollars. The BRR's formulation incorporates spot prices from a geographically diverse array of sources, ensuring it accurately mirrors the cryptocurrency's global market rate. The daily computation of the BRR draws on trade data executed on designated trading platforms during a specific hour, from 15:00 to 16:00 London Time. This sixty-minute window is systematically divided into twelve distinct five-minute periods. For each of these segments, a volume-weighted median (VWM) price is determined. Ultimately, the BRR's final figure is the arithmetic average of these twelve VWMs. While this index is crafted to be indicative of the broader market, Bitcoin's inherent price fluctuations mean its representation may occasionally vary. Furthermore, the fund's shares qualify for holding within registered investment portfolios.