CI Global Launches the World's First Ethereum Mutual Fund!

The Fund charges an industry-low management fee of 0.40% (for the F Series), which the Company will waive for a limited time until June 15, 2021. The Fund's management expense ratio is capped at 1.00% (for the F Series).

As previously reported by Bitpush, CI Global launched the CI Galaxy Ethereum ETF (TSX: ETHX) last week and claimed that it was the world's first ETF to directly invest in Ethereum.

Kurt MacAlpine, CEO of CI Financial, CI’s parent company, said: “CI Global is the only firm in the world that offers convenient, low-cost and secure exposure to the two largest cryptocurrencies through ETFs and mutual funds.”

Importantly, these products allow investors to access these digital assets through their financial advisors, so they can be integrated into investors’ existing portfolios and investment plans. As digital assets become more mainstream, establishing a leading position in the digital asset space is an important part of CI GAM’s mission to provide investors with timely and relevant investment solutions in product structures that investors prefer.

The investment objective of the CI Ethereum Fund is to provide unit holders with exposure to Ethereum through an institutional-grade fund platform. It invests all or substantially all of its assets in the CI Galaxy Ethereum ETF. The fund is open to retail investors in Canada in Series A, F and P.

The main benefits of investing in the CI Ethereum Fund include convenient exposure to Ethereum and potential diversification benefits due to Ethereum's low correlation with other asset classes.

CI GAM is the fund's manager, with CI Galaxy Ethereum ETF and Galaxy Digital Asset Management ("GDAM") acting as a sub-advisor. As a sub-advisor, GDAM executes Ethereum trades on behalf of the ETF.