A $20 Billion South African Fund Warns Against Full Bitcoin Bet
Bitcoin,Cryptocurrency,Banking and Finance
From the Left
AllSides Media Bias Rating: Lean Left
South Africa’s Sygnia Ltd., which started a Bitcoin exchange-traded fund in June, says it will dissuade investors from switching all their assets into the high-risk crypto fund.
The Sygnia Life Bitcoin Plus fund uses the iShares Bitcoin Trust ETF as the benchmark, according to a fact-sheet on the asset manager’s website. Bitcoin, which has jumped 82% in the past 12 months, fell 2.3% to $112,735.12 as of 10:18 a.m. in Johannesburg.
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