Wednesday, June 16, 2021
JAY TALKS CRYPTO
No Result
View All Result
  • Home
  • Bitcoin
    • Bitcoin Live
    • Best UK Non Gamstop Casinos 2025
    • Casinos Not On Gamstop
    • Casino Non AAMS
    • Non Gamstop Casino
  • Ethereum
  • Cryptocurrency
    • Cryptocurrency live
  • Altcoins
    • Altcoins Daily
  • Cardano
    • Cardano Price Prediction
  • XLM Live
    • XLM
  • XRP
  • Litecoins
  • Dogecoin
  • More
    • Coingecko
    • Coin Bureau
  • Videos
JAY TALKS CRYPTO
No Result
View All Result
Home Cryptocurrency

CI Global Asset Management Capping MERs on its Cryptocurrency ETFs, BTCX and ETHX, at 0.95%

admin by admin
April 21, 2021
in Cryptocurrency
0
 CI Global Asset Management to Launch World’s First Ethereum ETF on April 20 with World’s Lowest Management Fee of 0.40%
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


TORONTO-(BUSINESS WIRE)-CI Global Asset Management (“CI GAM”) announced today that it is capping the management expense ratio (“MER”) of CI Galaxy Bitcoin ETF (TSX: BTCX) and CI Galaxy Ethereum ETF (TSX: ETHX) at 0.95%, effective immediately.

This move confirms that the two ETFs will have the lowest published MER caps of any bitcoin or Ether ETF globally. The two ETFs already have the lowest management fee of any bitcoin or Ether ETF at 0.40% and the change is to provide investors with greater fee certainty and transparency. The MER represents the total of the management fee, operating expenses and taxes. With respect to ETHX, the management fee continues to be waived until June 15, 2021, as previously announced.

“CI GAM is providing investors with the world’s lowest-cost means of gaining exposure to Bitcoin and Ether through the convenient ETF structure,” said Kurt MacAlpine, Chief Executive Officer of CI Financial Corp., the parent company of CI GAM.

“Adding this clarity on the maximum fees that investors will pay should enable us to build on our strong momentum. As the funds’ assets grow, the expense ratio will be lower and those savings will be passed on to investors. This move is another step in positioning our firm to be the leader in the democratization of these important, emerging digital asset classes, which are gaining increasing investor interest and acceptance.”

CI Galaxy Bitcoin ETF trades on the TSX under the tickers BTCX.B and BTCX.U. CI Galaxy Ethereum ETF trades on the TSX under the tickers ETHX.B and ETHX.U.

BTCX and ETHX are designed to provide investors with a convenient and expedient way to gain exposure to Bitcoin and Ether, respectively, through an institutional-quality fund platform. BTCX invests directly in Bitcoin with its holdings priced using the Bloomberg Galaxy Bitcoin Index (the “BTC”), which is designed to measure the performance of a single bitcoin traded in U.S. dollars. ETHX invests directly in Ether with its holdings priced using the Bloomberg Galaxy Ethereum Index (“ETH Index”), which is designed to measure the performance of a single Ether traded in U.S. dollars. Both indexes are owned and administered by Bloomberg Index Services Ltd.

CI GAM is the manager of the ETFs and Galaxy Digital Asset Management (“GDAM”) serves as the sub-advisor. As sub-advisor, GDAM executes bitcoin and Ether trading on behalf of the ETFs. GDAM is the Asset Management arm of Galaxy Digital, a diversified financial services firm dedicated to the digital asset and blockchain technology sector. The GDAM team has deep institutional experience managing third-party capital across traditional and alternative asset classes, strong relationships with institutional service providers and counterparties, and exceptional connectivity throughout the blockchain and digital assets ecosystem.

More information about the ETFs is available at www.ci.com/bitcoin and www.ci.com/ethereum/.

About Galaxy Digital

Galaxy Digital Capital Management LP is an affiliate of Galaxy Digital Holdings Ltd. (TSX: GLXY) (“Galaxy Digital”). Galaxy Digital is a diversified financial services and investment management company in the digital asset, cryptocurrency and blockchain technology sector, and currently operates four distinct business lines, which include: Trading, Asset Management, Principal Investments and Investment Banking. Galaxy Digital’s CEO and Founder is Michael Novogratz. Galaxy Digital is headquartered in New York City, with offices in Chicago, San Francisco, London, Tokyo, Hong Kong, the Cayman Islands (registered office) and New Jersey. Additional information about Galaxy Digital’s businesses is available on 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 is on the Web at www.ci.com. CI GAM is a subsidiary of CI Financial Corp. (TSX: CIX, NYSE: CIXX), an independent company offering global asset management and wealth management advisory services with approximately C$240.6 billion in total assets as at March 31, 2021.

CI Galaxy Bitcoin ETF and CI Galaxy Ethereum ETF (each, an “ETF”) are exchange-traded mutual funds that invest in the digital currency bitcoin and Ether, respectively. An investment in the ETFs may be considered speculative and is not intended as a complete investment program. It is appropriate only for investors who have the capacity to absorb a loss of some or all of their investment. An investment in the ETFs is considered high risk.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.

Commissions, management fees and expenses all may be associated with an investment in exchange-traded funds (ETFs). You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on recognized Canadian exchanges. If the units are purchased 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 ETF is contained in its prospectus. ETFs are not guaranteed; their values change frequently and past performance may not be repeated.

This communication is provided as a general source of information and should not be considered personal, legal, accounting, tax or investment advice, or construed as an endorsement or recommendation of any entity or security discussed. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies.

Certain statements in this document are forward-looking. Forward-looking statements (“FLS”) are statements that are predictive in nature, depend upon or refer to future events or conditions, or that include words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” “intend,” “plan,” “believe,” or “estimate,” or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are by their nature based on numerous assumptions. Although the FLS contained herein are based upon what CI Global Asset Management believes to be reasonable assumptions, CI Global Asset Management cannot assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.

CI Global Asset Management is a registered business name of CI Investments Inc.

©CI Investments Inc. 2021. All rights reserved.



Source link

Related articles

Embracing cryptocurrency – The Hindu

Embracing cryptocurrency - The Hindu

June 15, 2021
Bitcoin & groceries: In NC you can now exchange cash for cryptocurrency at some stores

Bitcoin & groceries: In NC you can now exchange cash for cryptocurrency at some stores

June 15, 2021
Tags: AssetBTCXCappingCryptocurrencyETFsETHXglobalManagementMERs
Share76Tweet47

Related Posts

Embracing cryptocurrency – The Hindu

Embracing cryptocurrency - The Hindu

by admin
June 15, 2021
0

The fact that cryptocurrency has no legal classification should not be the impetus to prohibit its use in India...

Bitcoin & groceries: In NC you can now exchange cash for cryptocurrency at some stores

Bitcoin & groceries: In NC you can now exchange cash for cryptocurrency at some stores

by admin
June 15, 2021
0

RALEIGH – North Carolina is the newest state where Coinstaris offering the purchase of bitcoin at a number of kiosks...

Soccer clubs embrace cryptocurrency, but fans are divided

Soccer clubs embrace cryptocurrency, but fans are divided

by admin
June 15, 2021
0

A growing number of major soccer clubs are launching digital coins that allow fans to vote on a variety...

Top 10 Cryptocurrency Prices for June 15

Top 10 Cryptocurrency Prices for June 15

by admin
June 15, 2021
0

The crypto market has grown significantly, attracting the attention of new investors. The global cryptocurrency market has continued to...

6 Insurers Initiate New Cryptocurrency Investment Positions: Report

6 Insurers Initiate New Cryptocurrency Investment Positions: Report

by admin
June 15, 2021
0

Six large insurers acquired shares of cryptocurrency investment products offered by Grayscale Investments, according to an S&P Global Market...

Load More
  • Trending
  • Comments
  • Latest
2021 Coinbase Debit Card Review • Pros, Cons & More • Benzinga

2021 Coinbase Debit Card Review • Pros, Cons & More • Benzinga

April 14, 2021
MASSIVE NEWS Hokkaido inu Exchange news+ More! 1000x gem! If you missed shiba inu dont miss this!

MASSIVE NEWS Hokkaido inu Exchange news+ More! 1000x gem! If you missed shiba inu dont miss this!

May 12, 2021
Kishu Inu Mega pump! We called it first! Kishu inu Pump update+ Discord updates!

Kishu Inu Mega pump! We called it first! Kishu inu Pump update+ Discord updates!

May 15, 2021
Shiba Inu coin 1000x Exchange+massive news+ Shib Price Prediction!

Shiba Inu coin 1000x Exchange+massive news+ Shib Price Prediction!

May 11, 2021
Market Wrap: Bitcoin Attempts $40K Break; Sellers Capitulate

Market Wrap: Bitcoin Attempts $40K Break; Sellers Capitulate

0
Want to be rich? Bitcoin’s limited supply cap means you only need 0.01 BTC

Want to be rich? Bitcoin’s limited supply cap means you only need 0.01 BTC

0
Risky business

Risky business

0
Cardano Price Analysis: 07 March

Cardano Price Analysis: 07 March

0
Market Wrap: Bitcoin Attempts $40K Break; Sellers Capitulate

Market Wrap: Bitcoin Attempts $40K Break; Sellers Capitulate

June 16, 2021
Ethereum DEX dYdX Closes $65 Million Funding Round

Ethereum DEX dYdX Closes $65 Million Funding Round

June 16, 2021
Bitcoin and Ethereum cryptocurrencies plunge following FBI seizure – Seeking Alpha

Bitcoin is below trend - it's time to buy, says Pantera Capital - Seeking Alpha

June 16, 2021
Watch Jim Cramer on TheStreet Tuesday, June 15

Watch Jim Cramer on TheStreet Tuesday, June 15

June 16, 2021

Recent News

Market Wrap: Bitcoin Attempts $40K Break; Sellers Capitulate

Market Wrap: Bitcoin Attempts $40K Break; Sellers Capitulate

June 16, 2021
Ethereum DEX dYdX Closes $65 Million Funding Round

Ethereum DEX dYdX Closes $65 Million Funding Round

June 16, 2021

Categories

  • Altcoins
  • Altcoins Daily
  • Bitcoin
  • Bitcoin Live
  • Cardano
  • Cardano Price Prediction
  • Coin Bureau
  • Coingecko
  • Cryptocurrency
  • Cryptocurrency live
  • Dogecoin
  • Ethereum
  • Litecoins
  • Videos
  • XLM
  • XLM Live
  • XRP

Follow Us

Calculator

 
  • Privacy & Policy
  • About Us
  • Contact Us

© 2021 Jay Talks Crypto  

No Result
View All Result
  • Home
  • Bitcoin
    • Bitcoin Live
  • Ethereum
  • Cryptocurrency
    • Cryptocurrency live
  • Altcoins
    • Altcoins Daily
  • Cardano
    • Cardano Price Prediction
  • XLM Live
    • XLM
  • XRP
  • Litecoins
  • Dogecoin
  • More
    • Coingecko
    • Coin Bureau
  • Videos

© 2021 Jay Talks Crypto