The Canada based CI Global Asset Management announced that it has launched two new ETFs on the Toronto Stock Exchange. These ETFs are aiming to attract investors who are looking for investment in Metaverse and Blockchain technologies.
The firm said that the CI Galaxy Blockchain ETF (CBCX) and the CI Galaxy Metaverse ETF (CMVX), will begin trading Tuesday on the Toronto Stock Exchange. Both funds will track indexes built by Alerian in collaboration with Michael Novogratz’s Galaxy Digital Holdings and their management fee will be 0.50% annually.
“We are excited to collaborate with CI GAM and Galaxy Digital to meet the demand for more innovative exposures in the metaverse and the broad-based digital asset space,” said Rob Hughes, Chief Commercial Officer of Alerian.
The Blockchain ETF aims to track the performance of companies involved in the expansion of blockchain technologies along with businesses operating in and developing the blockchain ecosystem. Among the targeted investors are mainly crypto miners, miner equipment makers, brokers and custody services.
The Metaverse ETF aims to focus on the performance of companies which are materially engaged in the interactions, enablement and connectivity to the Metaverse. Among targeted companies are those affiliated in virtual and augmented reality, gaming/entertainment, payments and even social media.
“Blockchain and the metaverse are two extraordinarily powerful trends that are set to dramatically change our society and how we do business. Our ETFs provide investors with low-cost, convenient and diversified exposure to the growth potential of these rapidly developing, leading-edge sectors” said Roy Ratnavel executive vice-president and head of distribution for CI GAM.
These new CI products follow similar moves from bigger assets management firms. Fidelity Investments launched two ETFs in Canada for investors seeking crypto, blockchain and digital payment ecosystems.
