I just got hosed by the Evolve Bitcoin etf. (EBIT, Toronto exchange)
I bought the fund in February 2025 and sold it this past February. Of my original $90,000 investment, the market value was $73,414 at the end of December 31, 2025.
A couple of days ago I got my T3 indicating that I had to claim capital gains of $14,034.94 from this fund. This is despite a negative 2025 calendar year performance of negative 13.50%.
Apparently EVOLVE announced a non-cash capital gains distribution on January 1, 2026. This so called capital gain has to be included in my tax return. I never knew this could happen. Educate yourselves, and do not buy a Bitcoin etf. Hold your Bitcoin directly
Posted by No-Sink-7932