Bitcoin, Litecoin and Ethereum
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CI Global Asset Management (CI GAM) is capping the management expense ratios (MERs) of its cryptocurrency ETFs.

On Tuesday, the firm announced that the MERs for the CI Galaxy Bitcoin ETF and the CI Galaxy Ethereum ETF are now capped at 0.95%. In a release, CI GAM said these are “the lowest published MER caps” of any Bitcoin or Ether ETF globally.

Both ETFs have a management fee of 0.40% (CI is waiving the management fee of its Ether ETF until June 15). The MER is the total of a fund’s management fee, operating expenses and taxes.

In a statement, Kurt MacAlpine, CEO of CI Financial Corp., said the capped MERs will allow for greater fee certainty and transparency for investors.

“As the funds’ assets grow, the expense ratio will be lower and those savings will be passed on to investors,” MacAlpine said.