CI Global Asset Management is an undisputable leader in the cryptocurrency market, and Ethereum is the primary candidate for web 3.0

CI Global Asset Management, one of Canada’s largest investment management companies, presented on February 24 its intention to launch the first exchange-traded investment fund (ETF) for the cryptocurrency Ethereum, Ether (ETH). The new ETF will carry the symbol ETHX on the Toronto Stock Exchange.

Ci Global Asset Management and stated Kurt MacAlpine, CEO of CI Financial.” said that Cryptocurrencies are transforming the financial world, and they are excited to launch the world’s first ETF, which sets its investments directly through Ether. Ether is now one of the most valued cryptocurrencies.

“With these funds, we are reducing the sticking points that investors have traditionally faced when buying and holding cryptocurrencies. The CI Galaxy Ethereum ETF is an important addition to that line as this emerging asset class gains increasing interest and validation,” added MacAlpine.

There is a wave of institutional demand at a global level for cryptocurrencies. Through these funds, companies can gain more exposure for these assets with regulated platforms.

CI GAM, a CI Financial Corp subsidiary, is an independent company that offers global asset management services and a wide range of investment services. It manages equity of approximately USD 231.8 billion, according to the statement.

An Increasing Interest in Cryptocurrency Investments Grows

Galaxy Digital Holdings Chairman and CEO Mike Novogratz talked about how Ethereum’s native cryptocurrency is the first candidate for the Web 3.0 foundation and Ether investors’ favorite to bring exposure to the decentralized apps.

CI GAM will serve as administrator of the ETF and Galaxy Digital as sub-advisor. Galaxy Digital manages digital assets. They have comprehensive portfolio management expertise, market capital, mining, operations, blockchain, and cryptocurrencies.

The two companies joined forces in 2020, intending to create a bitcoin fund that raised $ 72 million when released. With this, CI seeks to acquire total dominion over the digital asset environment in Canada.

North America’s First Bitcoin ETF Raises over $ 400 Million in Two Days

The first Bitcoin (BTC) exchange-traded fund (ETF) announced on February 11 started its activities by trading on the Toronto Stock Exchange on Thursday, February 18. In just two days, the currency managed to raise 421 million dollars.

It is a Bitcoin ETF developed to offer greater exposure to this cryptocurrency through direct investment and physical settlement.

The bitcoin ETF (BTCC) hit the Canadian market with Purpose Investments, which traded CAD 80 million in the first hour of trading and CAD 200 million on the first day.

In this way,t this ETF could outperform the most prominent instruments of its kind in Canada in just a few weeks. The results have been very satisfactory, and they consider it to be the best way to start.

By: Jenson Nuñez


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