- Introducing ETFs will help investors facilitate low-cost, convenient, and diversified exposure to the growth potential of these rapidly developing, leading-edge sectors.
- CI Galaxy Blockchain ETF and CI Galaxy Metaverse ETF have been listed on the Toronto Stock Exchange (TSX) under CBCX and CMVX tickers.
CI Global Asset Management (CI GAM), one of Canada’s leading investment management companies, announced the launch of Exchange Traded Fund (EFTs), a center point for investment opportunities in two digital megatrends transforming society today – blockchain technology and the metaverse. CI Galaxy Blockchain ETF and CI Galaxy Metaverse ETF have been listed on the Toronto Stock Exchange (TSX) under CBCX and CMVX tickers. Each of them 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 how we do business,” said Roy Ratnavel, Executive Vice-President and Head of Distribution for CI GAM. “Our ETFs provide investors with low-cost, convenient, and diversified exposure to the growth potential of these rapidly developing, leading-edge sectors.”
Blockchain, the underlying technology that many cryptocurrencies like Bitcoin and Ethereum operate on, supported the development of trillions of dollars worth of digital assets and generated intense investor interest. Furthermore, blockchain has several additional applications that attract further investment and development.
The metaverse presents users with an immersive, interactive digital universe built because of advancements in the internet and virtual and augmented reality technology. This newly introduced digital technology promises to transform the way people interact, work and play, thus providing exciting opportunities for investors.
The ETFs track underlying indexes built by Alerian S-Network Global Indexes (Alerian). Alerian is an index builder that works towards the creation of innovative index-based solutions in collaboration with Galaxy Digital Holdings Ltd. (Galaxy Digital), a leading financial and investment management services provider in the cryptocurrency industry.
“We’re committed to increasing access to every investable corner of the digital asset ecosystem,” said Steve Kurz, Global Head of Asset Management at Galaxy Digital. “We’re pleased to deepen our relationships with CI GAM and Alerian as we expand our partnerships to include these two innovative ETFs.”
“We are excited to collaborate with CI GAM and Galaxy Digital to meet the demand for more innovative exposures in the metaverse and the broad-based digital asset space,” added Rob Hughes, Chief Commercial Officer of Alerian.
“With CBCX and CMVX, we continue to build on our capabilities in crypto and thematic ETFs as we seek to provide investors with convenient and inexpensive exposure to the world’s most innovative companies and themes,” said Mr. Ratnavel. “We’ve set a fast pace for product development in 2022, having previously launched multi-crypto, digital security, and biotechnology ETFs. Today, CI GAM has one of the industry’s most comprehensive ETF lineups with over 80 passive, smart beta, covered call, and actively managed mandates.”
CI Galaxy Blockchain ETF (CBCX) intends to reproduce 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 measure the performance of companies engaged in the development of blockchain technologies and businesses operating in and developing the blockchain ecosystem.
CBCX targets specific sectors, including cryptocurrency miners and cryptocurrency buyers. It also includes companies that enable the blockchain ecosystem, such as the ones that facilitate the buying, selling, and transfer of cryptocurrencies, the ones that provide custody services for cryptocurrency assets, as well as those that provide equipment used in cryptocurrency mining.
CI Galaxy Metaverse ETF (CMVX) intends to reproduce 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 the interactions, enablement and connectivity to the metaverse.
CMVX targets those companies who are involved in:
- Augmented reality and virtual reality enablement – supporting the development and usage of augmented or virtual reality devices.
- Connectivity – provides the hardware and software devices required to power the metaverse.
- Gaming and entertainment – developing live and multi-user game and entertainment systems.
- Payments – enabling digital asset transactions.
- Social media – presents social media platforms that let users share their content.