CI Global Launches ETFs Focused on Blockchain and Metaverse
With the introduction of two new ETFs, CI Global Asset Management (CI GAM) has extended its ETF portfolio to include two new funds centered on blockchain technology and the metaverse. On the Toronto Stock Exchange (TSX), the novel funds, CI Galaxy Blockchain ETF and CI Galaxy Metaverse ETF, have begun trading, represented by tickers CBCX and CMVX, respectively.
They monitor underlying indexes developed by Alerian S-Network Global Indexes, an index creator centered on developing index-based solutions, in collaboration with Galaxy Digital. The yearly management fee for each ETF is 0.50%.
CI GAM executive vice-president and chief of Distribution, Roy Ratnavel stated: “Blockchain and the metaverse are two major trends that will have a profound impact on our culture and corporate practices. Low-cost, simple, and versatile ETFs allow investors to benefit from quickly emerging, cutting-edge areas.”
Cryptocurrencies including Bitcoin and Ether are powered by the Blockchain technology, which is also used to store cryptos. Investors are thought to be increasingly interested in the technology, which has a variety of other uses. To put it another way, the Metaverse is a digital realm where actual people may connect, work and participate in a game via their personal electronic gadgets.
Ratnavel further stated “Having already rolled out ETFs for multi-crypto, online security, and biotechnology, we’ve established a rapid tempo for product innovation in 2022. At present, CI GAM offers a complete ETF portfolio with more than 80 passive, smart beta and covered call specifications.”
HSBC established a metaverse investment fund for its Hong Kong and Singapore private banking customers a month before.