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Major Canadian Investment Company Launches World’s First ETH Mutual Fund

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Major Canadian Investment Company Launches World’s First ETH Mutual Fund

CI Global Asset Management (CI GAM) has publicly revealed the launch of CI ETH Fund, the first in the world to be a mutual fund that provides exposure to Ether (ETH).

CI GAM has fully waived the management fee until June 15, 2021. Once ended, it will be reverted back to 0.90% for Series A and 0.40% for Series F, with management expense ratio (MER) capped at 1.55% and 1.00% respectively.

The introduction of this fund happened after the last week’s launch of CI Galaxy ETH ETF (ETHX), the world’s first ETF to invest directly in ETH. CI ETH Fund invests in units of ETHX. CI GAM offers a BTC mandate in both CI Galaxy BTC ETF and CI BTC Fund too.

CI Global Asset Management is the only company in the world offering convenient, low-cost and secure exposure to the two largest cryptocurrencies through both ETFs and mutual funds.

 

Kurt MacAlpine, CEO of CI Financial, the company behind CI GAM.

MacAlpine added that the products give investors the access to these digital assets via their financial advisors, so that they can be integrated into an investor’s existing portfolio and investment plan.

The investment objective of CI ETH Fund is to expose unitholders to ETH via an institutional-quality fund platform. It invests all or most of its assets in ETHX. CI ETH Fund is available to retail investors based in Canada in Series A, F and P units.

The post Major Canadian Investment Company Launches World’s First ETH Mutual Fund appeared first on SuperCryptoNews.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
BlackRock (IBIT), the Grayscale Bitcoin Trust (GBTC), Fidelity (FBTC), Ark Invest/21Shares (ARKB), Bitwise (BITB), Franklin (EZBC), Invesco/Galaxy (BTCO), VanEck (HODL), Valkyrie (BRRR), WisdomTree (BTCW), Hashdex (DEFI)

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