CI Global Asset Management unveils Blockchain & Metaverse focused ETFs

CI Global Asset Management unveils Blockchain & Metaverse focused ETFs

One of the largest investment management companies based in Canada, CI Global Asset Management (CI GAM) has recently announced the unveiling of ETFs for providing investment prospects in metaverse, and blockchain technology which are revolutionizing the society.

CI Galaxy Metaverse ETF and CI Galaxy Blockchain ETF started trading on the Toronto Stock Exchange (TSX) today under the tickers CMVX and CBCX, respectively. Each ticker will be costing around 0.50% for the management annually.

Roy Ratnavel, Executive Vice-President and Head of Distribution for CI GAM said that blockchain and the metaverse are the two extremely powerful trends that are premediated to change society and the way business is done dramatically. The ETFs offer investors low-cost, practical, and diversified exposure to the growing potential of these speedily developing, trailblazing sectors.

Furthermore, blockchain has aided the development of trillions of dollars worth of digital assets and produced extreme investor interest. It comprises an abundance of additional applications estimated to attract further development and investment.

On the other hand, metaverse is an immersive digital universe made possible with the help of advancements taking place in virtual and augmented reality technology and on the internet.

The metaverse seems to be promising in transforming how people work, play, and interact, thereby offering exciting opportunities for investors.

As per sources, the ETFs path the underlying indexes developed by “Alerian” (Alerian S-Network Global Indexes), an index builder who majorly focuses on building advanced index-based solutions, in collaboration with Galaxy Digital Holdings Ltd. (“Galaxy Digital”), a leader for providing investment management and financial services in the cryptocurrency industry.

The CMVX (CI Galaxy Metaverse ETF) seeks to track the performance of firms engaged materially in the enablement, interaction, and connectivity to the metaverse. While CBCX Index intends to track the performance of firms that are vested in blockchain technology development, as well as businesses that are operating in and developing blockchain ecosystem.

Source Credit - https://www.businesswire.com/news/home/20220503005238/en/CI-Global-Asset-Management-Launches-Blockchain-and-Metaverse-ETFs