CI Global Asset Management Launches Bitcoin Mutual Fund, Also Files for Ether ETF & Mutual Fund

2021-4-7 18:53

CI Global Asset Management has launched North America’s first mutual fund, CI Bitcoin Fund, to provide dedicated exposure to the leading cryptocurrency.

The Fund provides access to the Bitcoin market at an “industry-low” management fee of 0.40%, which has an initial minimum investment limit of just $500. Kurt MacAlpine, Chief Executive Officer of CI Financial Corp., the parent company of CI GAM said,

“As investor interest in digital assets continues to grow, it was a natural next step for CI to extend our bitcoin investment capabilities to a mutual fund platform, in addition to the CI Galaxy Bitcoin ETF.”

The firm’s CI Galaxy Bitcoin ETF is already trading on the Toronto Stock Exchange under the ticker BTCX. They are also working on merging their other product, a closed-end investment fund, CI Galaxy Fund (BTCG), launched in Dec. 2020 with BTCX.

The Bitcoin Fund is available to Canadian retail investors in Series A, F, and P units, with Series A carrying a management fee of 0.90% and Series F, a 0.40% the same as that of BTCX.

Mike Novogratz’s Galaxy Digital provides the segregated cold storage system for the secure storage of bitcoin holdings.

Besides Bitcoin, the firm is also working on launching Ethereum products and has obtained receipts for the preliminary prospectuses of CI Galaxy Ethereum ETF (the “Ether ETF”) and CI Ether Fund, a mutual fund. The Ether ETF will be investing directly in Ether, while CI Ether Fund will invest in the Ether ETF units.

Bitcoin BTC $ 58 186.51 -1.32% Ethereum ETH $ 2 117.73 +0.07% Binance Coin BNB $ 403.59 +8.75% The post CI Global Asset Management Launches Bitcoin Mutual Fund, Also Files for Ether ETF & Mutual Fund first appeared on BitcoinExchangeGuide.

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