Assets, Bitcoin

Is CI Galaxy Bitcoin Fund an ETF?

The CI Galaxy Bitcoin Fund is an exchange-traded fund that invests in bitcoin. The fund is managed by Galaxy Digital, a digital asset management firm founded by Mike Novogratz.

The fund is listed on the Toronto Stock Exchange and trades under the ticker BTCX.

NOTE: Warning: CI Galaxy Bitcoin Fund is not an exchange-traded fund (ETF). It is a private fund that invests in Bitcoin and other digital assets. Investing in this fund carries a higher risk than investing in a regulated ETF and may not be suitable for everyone. You should do your own research and use caution before investing.

The CI Galaxy Bitcoin Fund is the first publicly traded bitcoin fund in Canada. The fund launched in February 2018 and raised CAD$180 million in its initial public offering.

The fund is designed to provide investors with exposure to the price movements of bitcoin, without the need to buy, store, or manage the underlying asset.

The CI Galaxy Bitcoin Fund is an attractive option for investors looking to gain exposure to bitcoin without the hassle of buying and storing the digital currency. However, the fees associated with the fund are relatively high, and investors should be aware of the risks associated with investing in bitcoin.

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