CI GAM launches Ether mutual fund

CI Global Asset Management (CI GAM) has launched a mutual fund that provides investors with exposure to Ether, a cryptocurrency built on the Ethereum blockchain.

The CI Ethereum Fund invests all or substantially all of its assets in the CI Galaxy Ethereum ETF, which was launched last week and invests directly in Ether. CI GAM has also launched an ETF and mutual fund that invest in Bitcoin.

“CI Global Asset Management is the only company in the world offering convenient, low-cost and secure exposure to the two largest cryptocurrencies through both ETFs and mutual funds,” Kurt MacAlpine, CEO of CI Financial Corp., said in a release.

The CI Ethereum Fund is available in series A, F and P units. Management fees have been waived until June 15, according to the release, at which time they will revert to 0.90% for series A and 0.40% for series F. The management expense ratio for each series has been capped at 1.55% and 1.00%, respectively.

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