CI Global Asset Management Inc. and Galaxy Digital Capital Management LP will soon be celebrating the launch of their Bitcoin ETF (“BTCX”) on the Toronto Stock Exchange. The listing should come as early as March 9, 2021.
BTCX is designed to provide investors with a convenient way to gain exposure to bitcoin through an institutional-quality fund platform. BTCX invests directly in bitcoin with its holdings priced using the Bloomberg Galaxy Bitcoin Index (the “BTC”), which is designed to measure the performance of a single bitcoin traded in U.S. dollars. The BTC is owned and administered by Bloomberg Index Services Ltd.
“The CI Galaxy Bitcoin ETF offers investors a secure and convenient means of holding bitcoin in their portfolio,” said Kurt MacAlpine, Chief Executive Officer of CI Financial, the parent company of the CI GAM. “I believe our ETF stands out based on its highly competitive price point and CI and Galaxy’s extensive capabilities and track record in managing alternative investments and digital assets.”
“We believe the emerging digital asset class presents compelling growth and diversification opportunities. The CI Galaxy Bitcoin ETF offers a simple and secure access point for traditional investors to gain exposure to bitcoin,“ said Steve Kurz, Partner and Head of Asset Management at GDAM.
CI Galaxy Bitcoin ETF will be the third ETF after Purpose and Evolve launched their own respective Bitcoin ETF last month.
[ Read more: An Ethereum ETF In The Works ]
[ Read more: CBOE Global Markets Files to List VanEck’s Bitcoin ETF ]