Canadian regulators approve CI Financial and Galaxy Digital’s Bitcoin ETF launch

Canadian regulators have approved the launch of the CI Galaxy Bitcoin ETF — an exchange-traded fund from CI Global Asset Management (CI GAM) and Galaxy Digital, led by Mike Novogratz. This was reported in a press release.

The instrument will be listed under the ticker BTCX on March 9 on the Toronto Stock Exchange (TSX).

CI GAM also plans to merge the existing Bitcoin fund with $172 million in assets into the new ETF.

CI GAM will be the fund manager. Galaxy Digital Capital Management LP will act as co-manager.

In February, Canada registered the first North American Bitcoin ETF managed by Purpose Investments.

In January, Galaxy Digital announced the launch of three Ethereum funds for institutional investors.

Earlier, ForkLog reported that within a month of the Ethereum funds’ launch, Galaxy Digital attracted $32 million from institutional investors.

What is a cryptocurrency ETF?

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