CI Global Asset Management Continues to Enhance Digital Assets Lineup with Proposed Staking Strategy for ETHX
CI GAM believes that its proposal to stake a portion of the Ether tokens (“ETH”) held within the ETF’s portfolio will benefit unitholders by enhancing the total return of the ETF, which trades on the
As part of the proposal, CI GAM is seeking unitholder approval to receive a portion of the net staking rewards (the “Staking Service Fee”) in consideration for implementing and administering staking (the “Staking Arrangements”). CI GAM expects to hold a unitholder meeting to vote on the proposed fee on or about
“CI GAM is a leader in providing digital asset investment solutions to Canadians and we continue to build on that position with this enhancement to ETHX and our recent launch of CI Galaxy Solana ETF,” said
“Our solutions allow investors to benefit from the growth potential of decentralized finance and other blockchain applications while investing with all the advantages of ETFs and mutual funds. These include convenience, transparency, liquidity, professional management, eligibility for registered plans, and the ability to integrate digital assets into your overall investment plan.”
ETHX provides investors with exposure to ETH, the digital currency underlying the Ethereum network, a decentralized software platform using blockchain technology. Ethereum operates on a proof-of-stake system, in which validators verify transactions and ensure the smooth operation of the network in exchange for the opportunity to receive rewards of additional ETH. Validators must lock up or “stake” ETH in order to participate in this process.
Deep expertise in digital assets
CI GAM intends to take a measured approach by initially allocating up to 50% of the ETF’s ETH holdings to staking. CI GAM is proposing to share in the rewards generated for the ETF by the Staking Arrangements (net of fees payable to the validator), such that no less than 75% of the net rewards accrue to the ETF and up to 25% accrue to CI GAM as the Staking Service Fee.
CI GAM believes that ETH staking offers the following potential benefits:
- Enhanced returns through earning staking rewards.
- Increased capital efficiency by using ETH holdings that would otherwise remain idle to generate rewards.
- Enhanced competitive positioning by expanding the investment strategies of the ETF.
- A complement to the ETF’s core strategy of providing exposure to ETH.
A comprehensive lineup
CI GAM partners with Galaxy to provide one of the industry’s most comprehensive lineups of digital asset solutions:
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CI Galaxy Bitcoin ETF (BTCX.B, BTCX.U) and
CI Bitcoin Fund -
CI Galaxy Ethereum ETF (ETHX.B, ETHX.U) and
CI Ethereum Fund - CI Galaxy Solana ETF (SOLX.B, SOLX.U)
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CI Galaxy Multi-Crypto ETF (CMCX.B, CMCX.U) - CI Galaxy Blockchain Index ETF (CBCX).
About
About CI Global Asset Management
CI Global Asset Management (“CI GAM”) is one of Canada’s largest investment management companies. It offers a wide range of investment products and services and is on the web at www.ci.com. CI GAM is a subsidiary of
CI Galaxy Ethereum ETF (the “ETF”) is an exchange traded mutual fund that invests in the digital currency Ether (“ETH”). Given the speculative nature of digital assets, including ETH, and the volatility of ETH markets, there is no assurance that the ETF will be able to meet its investment objective. An investment in the ETF is not intended as a complete investment program and is appropriate only for investors who have the capacity to absorb a loss of some or all of their investment. An investment in the ETF is considered high risk.
Commissions, management fees and expenses all may be associated with an investment in exchange-traded funds (ETFs). You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on recognized Canadian exchanges. If the units are purchased or sold on these Canadian exchanges, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them. Please read the prospectus before investing. Important information about an exchange-traded fund is contained in its prospectus. ETFs are not guaranteed; their values change frequently and past performance may not be repeated.
This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase mutual funds managed by CI Global Asset Management and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Every effort has been made to ensure that the material contained in this document is accurate at the time of publication. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies. These investments may not be suitable to the circumstances of an investor.
CI Galaxy Ethereum ETF is an alternative mutual fund and has the ability to invest in asset classes or use investment strategies that are not permitted for conventional mutual funds.
Certain statements contained in this communication are based in whole or in part on information provided by third parties and CI Global Asset Management has taken reasonable steps to ensure their accuracy. Market conditions may change which may impact the information contained in this document.
Certain statements in this document are forward-looking. Forward-looking statements (“FLS”) are statements that are predictive in nature, depend upon or refer to future events or conditions, or that include words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” “intend,” “plan,” “believe,” or “estimate,” or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are by their nature based on numerous assumptions. Although the FLS contained herein are based upon what CI Global Asset Management and the portfolio manager believe to be reasonable assumptions, neither CI Global Asset Management nor the portfolio manager can assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.
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Vice-President, Corporate Communications
CI Global Asset Management
416-681-3254
moxby@ci.com
Source: CI Global Asset Management
