CI Global Asset Management announced today it has filed and obtained a receipt for a preliminary prospectus relating to a new issue of CI Galaxy Bitcoin Fund , which trades on the Toronto Stock Exchange in U.S. dollars and Canadian dollars under the symbols “BTCG.U” and “BTCG.UN”, respectively.

The new issue consists of Class A units priced in U.S. dollars (the “Offering”) and will be priced so as not to be dilutive to the Fund’s net asset value at the time of pricing. The closing of the Offering is subject to regulatory and TSX approval.

The Fund is a closed-end investment fund that seeks to provide unitholders with exposure to bitcoin through an institutional-quality fund platform. The Fund invests directly in bitcoin with the Fund’s holdings of bitcoin priced using the Bloomberg Galaxy Bitcoin Index , which is designed to measure the performance of a single bitcoin traded in U.S. dollars. The BTC is owned and administered by Bloomberg Index Services Ltd.

CI GAM is the manager of the Fund and Galaxy Digital Capital Management LP acts as the bitcoin sub-advisor for the Fund. As sub-advisor, Galaxy Digital executes all bitcoin trading on behalf of the Fund. Galaxy Digital is a diversified financial services and investment management company in the digital asset and blockchain technology sector. The team has extensive experience spanning investing, capital markets, venture capital, asset management and blockchain technology.

Class A units of the Fund are being offered on a best-efforts basis in each of the provinces and territories of Canada. The syndicate of agents for the Offering is being led by CIBC Capital Markets.

The Offering is only made by the preliminary prospectus of the Fund dated January 11, 2021. The preliminary prospectus containing important information relating to these securities has been filed with the securities commissions or similar authorities in each of the provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from CIBC Capital Markets or through www.sedar.com. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued by the relevant securities commissions in Canada. Investors should read the prospectus before making an investment decision.

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