Bitcoin, Ether ETF That Aims to Cushion Volatility Set to Launch in Canada - Blockworks

By  (contrib. Fatstack)
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The new ETF product seeks to offer the upside of both bitcoin and ether, while aiming to reduce volatility.

A new ETF designed to offer risk-controlled exposure to bitcoin and ether is set to begin trading Tuesday in Canada. 

The CI Galaxy Multi-Crypto ETF (CMCX) is available on the Toronto Stock Exchange. Galaxy Digital Asset Management (GDAM), an arm of crypto and blockchain firm Galaxy Digital, manages the ETF’s portfolio. 

Galaxy partnered with CI Global Asset Management (CIGAM), which acts as the fund sponsor. CIGAM had more than 100 ETFs with $15 billion in combined assets as of Aug. 31 — good for the fifth-largest ETF provider in Canada. 

CMCX gains exposure to BTC and ETH by investing in the CI Galaxy Bitcoin ETF (BTCX) and the CI Galaxy Ethereum ETF (ETHX), which are also listed in Toronto. It seeks to reduce the volatility of investing in the top two cryptocurrencies by systematically rebalancing the allocations between crypto and cash. . . .