Popular

Canada's CI Financial files for new Bitcoin ETF with Galaxy as subadvisor

advertisement

Canadian investment firm CI Financial, which manages more than $230 billion worth of assets, has filed for a new bitcoin exchange-traded fund (ETF).

CI is seeking approval to list the bitcoin ETF on the Toronto Stock Exchange (TSX). If approved, the firm would manage the ETF with Mike Novogratz's Galaxy as subadvisor and charge an annual management fee of 1%.

CI already operates a bitcoin fund named CI Galaxy Bitcoin Fund, which manages about $172 million worth of assets.

In recent weeks, the market has seen several crypto asset managers in Canada apply and get approvals for bitcoin ETFs, including Purpose and Evolve.

Purpose's bitcoin ETF debuted Thursday and saw $165 million worth of trading volume and reportedly became the most-traded ETF for the day in Canada. Evolve's bitcoin ETF began trading on Friday.

Another Canadian crypto asset manager, 3iQ, also filed a preliminary prospectus for a bitcoin ETF last week and is awaiting approval. 3iQ also already manages bitcoin funds.

Meanwhile, in the U.S. as well, several crypto firms have begun filing and refiling their bitcoin ETF applications with the Securities and Exchange Commission in recent weeks.

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Investing giant Pimco is considering trading cryptocurrencies

Pimco, a $2 trillion investment firm, could potentially begin trading spot cryptocurrencies, the firm’s chief investment officer Daniel Ivascyn confirmed to CNBC.  The firm, which has engaged with the market via crypto-linked securities, is now looking at “trading certain cryptocurrencies as part of our trend-following strategies or quant-oriented strategies, then doing more work on the […]
Read Full Story
Oct 20, 2021, 6:59PM UTC

Here's how one of NYSE's largest market makers is breaking into DeFi

On this episode of The Scoop, founder Ari Rubenstein and founder & CEO Ryan Sheftel joined host Frank Chaparro to discuss the launch of their new crypto firm, called Radkl. Radkl, which was born out of trading firm and New York Stock Exchange market maker GTS, is a new digital asset trading business. GTS currently […]
Read Full Story
Oct 20, 2021, 2:23PM UTC
More