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May 4, 2022

CI Global adds blockchain and metaverse products to ETF suite

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.

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The Metaverse is becoming a reality – adapt to meet it

Although the term resists single definition, the metaverse can broadly be described as a virtual world where users can meet, work, play, shop and socialize in real-time within simulated scenarios. The theme has gained traction following Facebook's rebranding to Meta, prompting enterprises to consider how they can seemingly develop economies, trade with other companies, and form alliances in new and imaginative ways as the metaverse use cases and applications grow broader. This is subsequently encouraging businesses across sectors to begin developing capacities related to the metaverse experience, foundation, tools, and user interfaces. Simultaneously, the impact of the COVID-19 pandemic has accelerated the technology adoption rate, thereby increasing the expectations of stakeholders. Amid all such developments, the metaverse is projected to influence multiple sectors with user engagement, collaboration, training, and learning being touted as some of its early use cases. GlobalData examines how the innovative adoption of emerging technologies can accelerate the advent of the metaverse ecosystem. This report explores our in-house data to provide our clients with insights into how various companies are driving the immersive ecosystem’s growth with their innovative solutions.
by GlobalData
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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.

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.”

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.

Free Report
img

The Metaverse is becoming a reality – adapt to meet it

Although the term resists single definition, the metaverse can broadly be described as a virtual world where users can meet, work, play, shop and socialize in real-time within simulated scenarios. The theme has gained traction following Facebook's rebranding to Meta, prompting enterprises to consider how they can seemingly develop economies, trade with other companies, and form alliances in new and imaginative ways as the metaverse use cases and applications grow broader. This is subsequently encouraging businesses across sectors to begin developing capacities related to the metaverse experience, foundation, tools, and user interfaces. Simultaneously, the impact of the COVID-19 pandemic has accelerated the technology adoption rate, thereby increasing the expectations of stakeholders. Amid all such developments, the metaverse is projected to influence multiple sectors with user engagement, collaboration, training, and learning being touted as some of its early use cases. GlobalData examines how the innovative adoption of emerging technologies can accelerate the advent of the metaverse ecosystem. This report explores our in-house data to provide our clients with insights into how various companies are driving the immersive ecosystem’s growth with their innovative solutions.
by GlobalData
Enter your details here to receive your free Report.

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