CI Global Asset Management ( CI GAM ), a subsidiary of Canadian asset management company CI Financial, announced on Monday the launch of the CI Ethereum Fund , which is said to be the world’s first mutual fund offering Ethereum exposure. The fund charges 0.40 % (for F series) the lowest management fees in the industry, the company will be exempt from the limit fees until 2021 Nian 6 Yue 15 days. The fund’s management expense ratio is capped at 1.00 % ( F series).
Prior to this, CI GAM was launched last week a CI Galaxy Ethernet Square ETF ( the TSX: ethX ), and claims to be the world’s first direct investment in Ethernet Square ETF . CI Ethernet Square Fund will invest CI Galaxy Ethernet Square ETF share .
In addition, 4 Yuechu, CI GAM announced the launch of CI Bitcoin Fund ( CI Bitcoin Fund ), which is North America’s first exposure specializes in Bitcoin mutual funds. CI Bitcoin Fund provides Canadian retail investors with Class A, Class F and Class P shares. The management fee for Class A shares is 0.90% , and the management fee for Class F shares is only 0.40% . The initial minimum investment is US $ 500 . CI GAM has therefore become the only company in the world that provides investors with bitcoin investment products in the form of mutual funds and ETFs .
The parent company of CI Financial CEO Kurt MacAlpine this representation: ” CI , Ltd. Free Join Asset Management is the only company in the world by ETF to these two encryption and mutual fund money ( BTC and ETH convenience), low cost and security exposures of the company. “
The investment objective of CI Ethereum Fund is to provide unitholders with Ethereum risk exposure through the institutional quality fund platform . It invests all or most of its assets in CI Galaxy Ethereum ETF . The fund is offered to retail investors in Canada in A , F series and P units. In 2021 Nian 6 Yue 15 before the date of the management fee has been dispensed with, then, A series of management fees will revert to 0.90% , F Series management fee will revert to 0.40% . Each series of MER ( management expense ratio ) limit respectively to 1.55% and 1.00% .
Investment CI main benefits of Ethernet Square Fund consists of more easily obtain the ether Square exposure, due to its low correlation with other asset classes, thus providing a potential diversification benefits. The fund also provides the expertise of a leading Crypto asset portfolio management team , secure storage of Ethereum in an independent cold storage system , and the ability to hold in a registered plan.
CI GAM fund manager , CI Galaxy Ethernet Square ETF and Galaxy Digital Asset Management ( referred to as ” GDAM “) as a sub-adviser. As a sub-consultant, GDAM on behalf of the ETF to perform Ethernet Square deal.
GDAM is Galaxy Digital asset management department, Galaxy Digital is committed to a number of assets and technology block chain diversified financial services company.
CI Global Asset Management is one of Canada’s largest investment management companies, providing a series of investment products and services, and is a subsidiary of CI Financial Corp. ( TSX:CIX , NYSE:CIXX ). CI Financial Corp. is a global asset management and wealth management consulting services of an independent company, as of 2021 Nian 3 Yue 31 days, which is owned pipe size of about 2406 billion Canadian dollars.
North America becomes a hotbed of crypto investment tools
In 2021 , the use of cryptocurrencies has surged globally, especially in North America, where a series of crypto investment tools in the form of Bitcoin and Ethereum ETFs , as well as the aforementioned Bitcoin and Ethereum mutual funds , have appeared . At the beginning of this year, North America launched the world’s first Bitcoin ETF issued by Purpose Group . The fund became an instant hit and currently holds more than $ 1 billion worth of Bitcoin.
The U.S. Securities and Exchange Commission ( SEC ) has not approved any Bitcoin ETF application, and there are currently more than 8 Bitcoin ETF applications pending approval. The SEC had earlier rejected most of the Bitcoin ETF applications launched after the bull market in 2017 , on the grounds that the Bitcoin market is volatile and has a small market value, which may be vulnerable to market manipulation. However, the market value of Bitcoin has now exceeded 1 trillion U.S. dollars, and the market value of the entire crypto market has exceeded the 2 trillion U.S. dollar mark. The growing interest of Wall Street giants such as JP Morgan and Goldman Sachs may also play a role in the approval of the first Bitcoin ETF in the United States .