CI Galaxy Ethereum ETF now trading on TSX
CI Global Asset Management's CI Galaxy Ethereum ETF (ETHX) is now trading on the Toronto Stock Exchange (TSX) under the tickers ETHX.B and ETHX.U.
The ETF is the world’s first ETF to invest directly in ether and its industry-low management fee of 0.40 per cent has been fully waived until 15 June, 2021.
“We believe that the CI Galaxy Ethereum ETF is investors’ best and most compelling option for gaining access to this exciting digital asset class,” says Kurt MacAlpine, Chief Executive Officer of CI Financial, the parent company of CI GAM. “In partnership with established leaders in this sector, we are delivering secure access to Ether through the convenience of an ETF structure – and with the world’s lowest management fee, which we have waived until 15 June, 2021.”
Following June 15, 2021, the effective management fee of ETHX will revert back to 0.40 per cent of net asset value, plus applicable sales taxes.
CI Galaxy Ethereum ETF is designed to provide investors with a convenient and expedient way to gain exposure to Ether, the cryptocurrency built on the Ethereum blockchain, through an institutional-quality fund platform. ETHX will invest directly in Ether with its holdings priced using the Bloomberg Galaxy Ethereum Index (“ETH Index”), which is designed to measure the performance of a single Ether traded in USD. The ETH Index is owned and administered by Bloomberg Index Services Ltd. ETHX.B will trade in Canadian dollars (unhedged) and ETHX.U will trade in USD.