TORONTO–(BUSINESS WIRE)–CI Global Asset Management (“CI GAM”) announces the launch of ETFs focused on investing opportunities in two digital megatrends that are transforming society today: blockchain technology and the metaverse. CI Galaxy Blockchain ETF and CI Galaxy Metaverse ETF begin trading today on the Toronto Stock Exchange (“TSX”) under the symbols CBCX and CMVX, respectively. Each has an annual management fee of 0.50%.
“Blockchain and the metaverse are two extraordinarily powerful trends that are set to dramatically change our society and the way we do business,” said Roy Ratnavel, Executive Vice President and Head of Distribution at CI GAM. “Our ETFs provide investors with low-cost, convenient and diversified exposure to the growth potential of these fast-growing, cutting-edge sectors. »
Blockchain, the technology that underpins cryptocurrencies such as Bitcoin and Ether, has supported the development of billions of dollars of digital assets and attracted strong investor interest. Additionally, blockchain has a host of additional applications that are expected to attract new investment and development.
The Metaverse is an immersive and interactive digital universe made possible by advances in the internet and virtual and augmented reality technology. The metaverse promises to transform the way people interact, work and play, providing exciting opportunities for investors.
The ETFs track underlying indices created by Alerian S-Network Global Indexes (“Alerian”), an index builder focused on creating innovative index solutions, in partnership with Galaxy Digital Holdings Ltd. (“Galaxy Digital”), a leading provider of financial management and investment services to the cryptocurrency industry.
“We are committed to increasing access to all investable corners of the digital asset ecosystem,” said Steve Kurz, Global Head of Asset Management at Galaxy Digital. “We are excited to deepen our relationships with CI GAM and Alerian as we expand our partnerships to include these two innovative ETFs.”
“We are excited to partner with CI GAM and Galaxy Digital to meet the demand for more innovative exhibits in the metaverse and the vast space of digital assets,” added Rob Hughes, Chief Commercial Officer of Alerian.
“With CBCX and CMVX, we continue to build our capabilities in crypto and thematic ETFs as we seek to provide investors with convenient, low-cost exposure to the world’s most innovative companies and themes,” Ratnavel said. “We have established a rapid pace for product development in 2022, having previously launched multi-crypto, digital security and biotech ETFs. Today, CI GAM has one of the most comprehensive ETF portfolios in the industry with over 80 passive, smart beta, covered call and actively managed mandates.
CI Galaxy Blockchain ETF (CBCX) seeks to replicate, to the extent possible, the performance of the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity Hedged to CAD Dollars Index (the “CBCX Index”), net of expenses. The CBCX Index aims to track the performance of companies engaged in the development of blockchain technologies, as well as companies operating and developing the blockchain ecosystem.
Specific sectors targeted by CBCX include cryptocurrency miners, cryptocurrency buyers, and businesses that enable the blockchain ecosystem, such as those that facilitate the buying, selling, and transferring of cryptocurrencies. , those that provide custodial services for cryptocurrency assets, and those that provide equipment used in cryptocurrency. mining.
CI Galaxy Metaverse ETF (CMVX) seeks to replicate, to the extent possible, the performance of the Alerian Galaxy Immersive Digital Worlds Hedged to CAD Dollars Index (the “CMVX Index”), net of expenses. The CMVX Index aims to track the performance of companies that are materially engaged in interactions, enablement and connectivity with the metaverse.
Companies targeted by CMVX include those involved in:
Enabling Augmented Reality and Virtual Reality – enabling the development and use of augmented or virtual reality devices
Connectivity – providing the hardware and software needed to power the metaverse
Games and entertainment – development of live and multi-user games and entertainment systems
Payments – facilitating digital asset transactions
Social Media – offering social media platforms that allow users to share their own content.
About Galaxy Digital
Galaxy Digital (TSX: GLXY) is a technology-driven financial services and investment management company that provides institutions and direct clients with a full suite of financial solutions spanning the digital asset ecosystem. Galaxy Digital operates in the following business segments: Trading, Asset Management, Investment Banking, Mining and Principal Investments. The CEO and Founder of Galaxy Digital is Mike Novogratz. The company is headquartered in New York and has offices in Chicago, London, Amsterdam, Tokyo, Hong Kong, Cayman Islands (headquarters) and New Jersey. Additional information about the company’s activities and products is available at www.galaxydigital.io.
About CI Global Asset Management
CI Global Asset Management is one of Canada’s largest investment management companies. It offers a wide range of investment products and services and has a web presence at www.ci.com. CI Global Asset Management is a subsidiary of CI Financial Corp. (TSX: CIX, NYSE: CIXX), an integrated global asset and wealth management company with approximately $369.8 billion in assets as of March 31, 2022.
Commissions, management fees and expenses all may be associated with investing in ETFs. You will usually pay brokerage fees to your dealer if you buy or sell units of an ETF on recognized Canadian exchanges. If Units are bought or sold on these Canadian exchanges, investors may pay more than the current net asset value when buying Units of the ETF and may receive less than the current net asset value when selling them. Please read the prospectus before investing. Important information about an exchange-traded fund (ETF) can be found in its prospectus. ETFs are not guaranteed; their values change frequently and past performance may not be repeated.
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