About CI Investments Inc.
CI Investments has been managing money on behalf of Canadian investors since 1965.One of Canada’s largest investment management firms, CI Investments Inc., employs over 100 investment experts, each of whom has a wealth of experience navigating a variety of markets. They provide an unique, modern lineup of traditional and alternative strategies with the performance you need to help achieve your distinct goals.CI is a subsidiary of CI Financial Corp a company that trades on the Toronto Stock Exchange with the ticker code CIX.As of May 2022, it has a total of $349.6 billion billion in assets under management.
CI Investments Inc. currently provides
1.Mutual Funds 2.ETFs 3.CI Floating Rate Income Fund 4.Liquid Alternatives 5.Alternative & Private Market Investments 6.Cryptocurrencies 7.ESG Solutions 8.Managed Solutions 9.High Net Worth Solutions 10.Segregated Funds.
| Founded | 1965 | Contact | Phone: 416-364-1145 Toll-free: 1-800-268-9374 Email: service@ci.com |
| Founder | G. Raymond Chang | Headquarter | 15 York Street, 2nd floor Toronto, ON M5J 0A3 |
| Website | www.cifinancial.com | Type | Publicly held |
| Click here | Click here |
What Is CI Galaxy Bitcoin ETF?
This might be your opportunity to buy Bitcoin without worrying about losing your private keys or getting hacked. The Bitcoin ETF’s goal is simple and comparable to that of other ETFs in terms of the client experience.
Furthermore, it implies that since ETFs are accessible through your existing brokerage accounts, you do not need to register an account with a cryptocurrency exchange. You now have shares of the ETF, which, like commodities funds, owns physically settled Bitcoin.
On the Toronto Stock Exchange, the CI Galaxy Bitcoin ETF is listed under two different tickers:
BTCX.B-Unhedged exposure to the daily price movement of bitcoin in CAD
| TICKER | BTCX.B | Option Available | No |
| ISIN | CA12563N2023 | Chart | Click here |
| Bloomberg | BTCX/B CN Equity | Management expense ratio | 0.4% |
| Currency Hedged | No | Leverage | No |
| Base currency | CAD | Fund structure | Open-end Fund |
BTCX.U-Exposure to the daily price movements of bitcoin in USD.
| TICKER | BTCX.U | Option Available | No |
| ISIN | CA12563N1033 | Chart | Click here |
| Bloomberg | BTCX/U CN Equity | Management expense ratio | 0.4% |
| Currency Hedged | Yes | Leverage | No |
| Base currency | USD | Fund structure | Open-end Fund |
What Does CI Galaxy Bitcoin ETF Invest In?
The ETF purchases and keeps physical bitcoin. The investor owns the ETF that holds bitcoin.
Is the ETF’s Bitcoin stored in a “cold wallet”?
Gemini Trust Company, LLC, a regulated and licenced bitcoin custodian, will hold the ETF’s bitcoin in cold storage. Gemini uses segregated cold storage bitcoin addresses for the ETF, which are distinct from the bitcoin addresses used by Gemini for its other customers. and which are readily provable via the Bitcoin blockchain Gemini will always record and identify In its books and records, the ETF states that such bitcoins are its property.
Who Should Consider this ETF?
Investors who want exposure to Bitcoin and daily fluctuations in the USD or CAD price must be prepared to assume a high level of investment risk, be able to sustain a loss on all or a portion of their investment, and maintain their investment for a protracted period of time (i.e. you have the capacity to absorb a loss of some or all of your investment).
Can I exchange ETF units for actual bitcoin?
No, ETF units can be sold on the TSX.
How is the ETF’s Net Asset Value (NAV) calculated?
ETFs have a NAV, similar to mutual funds. It is determined after each trading day’s closure and represents the value of an ETF’s holdings at that time.
Is the CI Galaxy Bitcoin ETF eligible for my RRSP and TFSA?
Yes. CI Galaxy Bitcoin ETF can be held in any registered account
CI Galaxy Bitcoin ETF Details.
| Issuer | CI Investments Inc. | prospectus | Click here |
| Subadvisor | Galaxy Digital Capital Management LP | SUB-CUSTODIAN | Gemini Trust Company, LLC |
| Auditor | Ernst & Young LLP | Custodian | Cidel Trust Company |
| Valuation Agent | CIBC Mellon Global Securities Services Company | Registrar and Transfer Agent | TSX Trust Company |
| Management strategy | Passively managed | Exchange | Toronto Stock Exchange |
| Legal structure | ETF | MINIMUM INVESTMENT | NO |
| Protfolio | BITCOIN 1 XBT IN USD | Risk rating | High |
| ETF Facts | Click here Click here | Fund Manager | CI Global Asset Management |
| Fund currency | CAD or USD | Jurisdiction | Canada |
| Inception/ Listing Date | 2021-03-05 | Management expense ratio | 0.4% |
Cryptocurrency ownership vs. cryptocurrency exchange-traded funds.
Cryptocurrency ETF values move in line with the currencies they track. However, they have different advantages and disadvantages when compared to direct cryptocurrencies investment
Pros of CI Galaxy Bitcoin ETF
Etf are less difficult to invest in than cryptocurrency:
ETF can be purchased, sold, and held in traditional brokerage accounts. Etf do not necessitate the creation of a digital wallet, the password for which may be forgotten.
ETF are issued by regulated businesses, the risk of fraud, scandals, or collapses connected with cryptocurrency investments is reduced.
cryptocurrency ETFs are regulated by some governments, making them eligible for investments through government-regulated tax plans, such as the Canadian Registered Retirement Savings Plan (RRSP) and the Tax Free Savings Account (TFSA), which allow users to invest in crypto ETFs while reaping tax benefits.
Cons of CI Galaxy Bitcoin ETF
Bitcoin is a very volatile asset, which means that its value can fluctuate substantially in a short amount of time. This volatility translates into a high level of risk.
Fees for Cryptocurrency funds are typically higher than those for standard Etf.
Crypto assets trade 24 hours a day, crypto etfs only trade during market hours.
Naren is a finance graduate who is passionate about cryptocurrency and blockchain technology. He demonstrates his expertise in these subjects by writing for cryptoetf.in. Thanks to his finance background, he is able to write effectively about cryptocurrency.