Options Trading Begins for CI Galaxy Bitcoin ETF (BTCX)

April 21, 2021 10:15 PM EDT
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Not for distribution to U.S. newswire services or for dissemination in the United States.

TORONTO--(BUSINESS WIRE)-- CI Global Asset Management (“CI GAM”) announces that the TMX Group began listing options for the Canadian-dollar unhedged units of CI Galaxy Bitcoin ETF (TSX: BTCX.B) today on the Montréal Exchange. The options listing provides additional means to invest in bitcoin, the world’s largest digital asset by market value.

CI Galaxy Bitcoin ETF (“BTCX”) offers investors a low-cost and convenient way to gain exposure to bitcoin through the world’s lowest management fee of any bitcoin ETF and the lowest published MER cap at 0.95%. It trades on the Toronto Stock Exchange under the tickers BTCX.B and BTCX.U.

The initial options schedule and strike prices for the Canadian-dollar unhedged units of BTCX (Symbol: BTCX) are as follows:

Month

Strike Prices

May

9, 9.5, 9.75, 10, 10.5, 11, 11.5, 12, 12.5

June

9, 9.5, 9.75, 10, 10.5, 11, 11.5, 12, 12.5

July

9, 9.5, 9.75, 10, 10.5, 11, 11.5, 12, 12.5

August

9, 9.5, 9.75, 10, 10.5, 11, 11.5, 12, 12.5

September

9, 9.5, 10, 11, 12, 13, 14

December

9, 9.5, 10, 11, 12, 13, 14

BTCX is designed to provide investors with a convenient and expedient way to gain exposure to bitcoin through an institutional-quality fund platform. BTCX invests directly in bitcoin with its holdings priced using the Bloomberg Galaxy Bitcoin Index (the “BTC”), which is designed to measure the performance of a single bitcoin traded in U.S. dollars. The index is owned and administered by Bloomberg Index Services Ltd. CI GAM is the manager of the ETF and Galaxy Digital Asset Management serves as the sub-advisor and executes bitcoin trading on behalf of BTCX.

More information about BTCX is available at www.ci.com/bitcoin.

About Galaxy Digital

Galaxy Digital Capital Management LP is an affiliate of Galaxy Digital Holdings Ltd. (TSX: GLXY) (“Galaxy Digital”). Galaxy Digital is a diversified financial services and investment management company in the digital asset, cryptocurrency and blockchain technology sector, and currently operates four distinct business lines, which include: Trading, Asset Management, Principal Investments and Investment Banking. Galaxy Digital’s CEO and Founder is Michael Novogratz. Galaxy Digital is headquartered in New York City, with offices in Chicago, San Francisco, London, Tokyo, Hong Kong, the Cayman Islands (registered office) and New Jersey. Additional information about Galaxy Digital’s businesses is available on www.galaxydigital.io.

About CI Global Asset Management

CI Global Asset Management 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 Financial Corp. (TSX: CIX, NYSE: CIXX), an independent company offering global asset management and wealth management advisory services with approximately C$240.6 billion in total assets as at March 31, 2021.

CI Galaxy Bitcoin ETF (the “ETF”) is an exchange-traded mutual fund that invests in the digital currency bitcoin. An investment in the ETF may be considered speculative and is not intended as a complete investment program. It is appropriate only for investors who have the capacity to absorb a loss of some or all of their investment. An investment in the ETFs is considered high risk.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.

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 ETF is contained in its prospectus. ETFs are not guaranteed; their values change frequently and past performance may not be repeated.

This communication is provided as a general source of information and should not be considered personal, legal, accounting, tax or investment advice, or construed as an endorsement or recommendation of any entity or security discussed. 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.

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 believes to be reasonable assumptions, CI Global Asset Management cannot 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.

CI Global Asset Management is a registered business name of CI Investments Inc.

©CI Investments Inc. 2021. All rights reserved.

Murray Oxby
Vice-President, Corporate Communications
CI Global Asset Management
416-681-3254
moxby@ci.com

Source: CI Global Asset Management



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