Following the Ethereum ETF, CI Global Asset Management launched the world’s first Ethereum mutual fund

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  .

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