CI Global Asset Management (CI GAM) has expanded its Exchange Traded Fund (ETF) suite with the launch of two ETFs focused on investment opportunities in blockchain technology and the metaverse.

The new funds, namely, CI Galaxy Blockchain ETF and CI Galaxy Metaverse ETF, has started trading on the Toronto Stock Exchange (TSX) under the tickers CBCX and CMVX, respectively.

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They track underlying indexes created by Alerian S-Network Global Indexes, an index builder focused on creating index-based solutions, in partnership with Galaxy Digital.

Each ETF has an annual management fee of 0.50%.

CI GAM executive vice-president and head of Distribution Roy Ratnavel said: “Blockchain and the metaverse are two extraordinarily powerful trends that are set to dramatically change our society and how we do business.

“Our ETFs provide investors with low-cost, convenient and diversified exposure to the growth potential of these rapidly developing, leading-edge sectors.”

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Blockchain is a technology that powers cryptocurrencies such as Bitcoin and Ether and is used for digital assets. The technology, which has additional applications, is said to be an area of growing investor interest.

Said to be is an interactive and immersive digital universe, Metaverse allows real people to interact, work and play through devices.

Ratnavel added: “We’ve set a fast pace for product development in 2022, having previously launched multi-crypto, digital security and biotechnology ETFs. Today, CI GAM has one of the industry’s most comprehensive ETF lineups with over 80 passive, smart beta, covered call and actively managed mandates.”

Last month, HSBC launched a fund that offers investment opportunities for its private banking clients in Hong Kong and Singapore in the metaverse.