Cryptocurrencies
Canada’s CI Financial Completes $72 Million IPO of Bitcoin Fund
- CI Galaxy Bitcoin Fund’s shares to start trading in Toronto
- Mike Novogratz’s Galaxy Digital is sub-adviser to the fund
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Canadian mutual fund manager CI Financial Corp. completed a $72 million initial public offering of a Bitcoin fund to help clients access the cryptocurrency in the midst of an eye-catching rally.
The IPO consisted of units sold at C$12.88 ($10) apiece, CI Financial said in a statement Wednesday. The CI Galaxy Bitcoin Fund’s shares will start trading in U.S. and Canadian dollars on the Toronto Stock Exchange.