Canadian Asset Manager CI Global Launches Metaverse, Blockchain ETFs
Canada’s CI Global Asset Management on Tuesday said it has introduced new ETFs for investors seeking investment in metaverse and blockchain technologies. The company has launched the CI Galaxy Metaverse ETF (CMVX) and the CI Galaxy Blockchain ETF (CBCX) on the Toronto Stock Exchange.
Moreover, the ETFs will follow the asset indexes created by Alerian S-Network Global Indexes and Galaxy Digital Holdings. The indexes are, the Alerian Galaxy Immersive Digital Worlds Hedged to CAD Dollars Index and the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity Hedged to CAD Dollars Index.
Canada Gets Metaverse and Blockchain ETFs from CI Global Asset Management
The CI Galaxy Metaverse ETF (CMVX) and the CI Galaxy Blockchain ETF (CBCX) will start trading on the Toronto Stock Exchange today, as reported in a press release on May 3. Furthermore, both ETFs have an expense ratio of 0.50%.
Metaverse and blockchain are the two revolutionary technologies in demand from businesses, investors, celebrities, and others. The interest in metaverse and blockchain continues to increase as investors are pouring millions into these innovative technologies.
Roy Ratnavel, Executive Vice-President and Head of Distribution for CI GAM, said:
“Our ETFs provide investors with low-cost, convenient, and diversified exposure to the growth potential of these rapidly developing, leading-edge sectors.”
The metaverse and blockchain ETFs by CI Global Asset Management will enable investors to invest in leading companies currently in the metaverse and blockchain space.
The metaverse ETF especially targets companies working on augmented reality and virtual reality, gaming and entertainment, and payments.
Likewise, the blockchain ETF especially targets cryptocurrency miners, cryptocurrency buyers, and companies that enable the blockchain ecosystem.
Canada Leads Crypto ETF Race in North America
While the U.S. regulators continue to maintain a strict stance on crypto and bitcoin ETFs, Canada seems to lead in the innovative sectors. Canada became the first country to allow a Bitcoin ETF by Purpose Investments.
CI Global Asset Management has also launched a Bitcoin ETF in partnership with Galaxy Digital. Moreover, the company has launched CI Galaxy Multi-Crypto ETF, which provides exposure to Bitcoin and Ether.
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