New funds invest in two digital megatrends poised to change the way we do business
CI Global Asset Management has introduced new thematic ETFs focused on two digital megatrends that are now reshaping society: blockchain technology and the metaverse.
The CI Galaxy Blockchain ETF and CI Galaxy Metaverse ETF, with the tickers CBCX and CMVX, are trading now on the Toronto Stock Exchange.
“Blockchain and the metaverse are two extraordinarily powerful trends that are set to dramatically change our society and how we do business,” said Roy Ratnavel, Executive Vice-President and Head of Distribution for CI GAM. “Our ETFs provide investors with low-cost, convenient and diversified exposure to the growth potential of these rapidly developing, leading-edge sectors.”
The CI Galaxy Blockchain ETF (CBCX) aims to replicate, as closely as possible, the performance of the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity Hedged to CAD Dollars Index net of expenses. The CBCX index aims to track the success of enterprises working on blockchain technologies, as well as businesses operating in and creating the blockchain ecosystem.
CI Galaxy Metaverse ETF (CMVX) seeks to replicate, to the extent reasonably possible, the performance of the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity Hedged to CAD Dollars Index. The CMVX index is designed to track the performance of businesses that are actively involved in metaverse interactions, enablement, and connectivity.
CMVX is interested in companies that are active in enabling augmented reality and virtual reality device development and use; connectivity by supplying the necessary equipment and software to run the metaverse; gaming and entertainment by creating multi-user and live gaming and entertainment systems; payments by enabling the exchange of digital assets; and social networking platforms.
“We’re committed to increasing access to every investable corner of the digital asset ecosystem,” said Steve Kurz, Global Head of Asset Management at Galaxy Digital. “We’re pleased to deepen our relationships with CI GAM and Alerian as we expand our partnerships to include these two innovative ETFs.”