how can i make a envelop distort like this
There is no way to do it with Envelope Distort: if you look closely at the letters and the spaces, you can see that the spaces are constant width whereas the letters are broader at the bottom (except for the T) but all path segments are straight.
I am afraid you will have to roll up your sleeves.
You can use Arc Warp and just dial in the bend you want, or you can use a manual distortion mesh. For something this simple I'd just use 1 horiz and 1 vert mesh row. That'll leave you with just for points to adjust. I like to select 2 points at a time and rotate them with the rotate tool. That way the sides stay perfectly straight. Then just move the mesh direction handles to curve the top and bottom. In some cases I distort 2 or more mesh direction points by using the Shear tool. This keeps the direction lines perfectly parallel.
I am assuming you're talking about the overall distortion, not the individual letter shapes. These would need to be edited with the pen tool.
I just did this in a couple of minutes using Envelope Distort > Warp (Arc) and a value of –23°.
A wee bit of messing around afterwards with some added background and a clipping mask.
This distorts the letters slightly as you would expect, same as in your original example.
(Jacob: I think you’re wrong about the spaces being constant.
It’s just that the convergence is so slight in a narrow space that you don’t notice it.
I still believe the originator of the artwork at least tried to keep to the straight and narrow. The crucial question is whether Hunter wishes to (too).
When zooming in as far as possible on the image (so it is 190 mm wide on screen), as far as I can see, the spaces are still constant width and the lettershapes at top and bottom are still straight, especially evident for the TE at the end, so I believe any deviation would be an inaccuracy. The rounding of the basically horizontal segments as in Envelope (or Art Brush) Distort should be clearly visible.
I believe Hunter may be able to make sure by zooming in on the actual artwork, and maybe measuring distances between key Anchor Points, and/or dragging with the Line Tool between them, in the latter case the top of the TE would show the greatest deviance from straightness.