CI Global Asset Management launches mutual Bitcoin fund in Canada

The Canadian company CI Global Asset Management (CI GAM) has given investors access to the first cryptocurrency through the CI Bitcoin Fund, a mutual fund.

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We’re bringing the first #Bitcoin mutual fund to the Canadian marketplace, giving investors another convenient way to access one of the biggest players in the #digitalassets sector. https://t.co/Y8PAN6LEfK

— CI Global Asset Management (@CIGlobalAsset) April 5, 2021

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The management fee will be 0.40%, with an initial minimum investment of $500.

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“As demand for digital assets continues to grow, CI’s next step was to expand the ability to invest in Bitcoin,” the statement said.

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CI Global Asset Management is a division of CI Financial, which manages assets totaling more than $230 billion.

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In March 2021, Canada’s regulator approved the launch of an exchange-traded fund by CI GAM and Galaxy Digital’s Mike Novogratz.