South African ETF issuer cautions investors over its own Bitcoin fund
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Sygnia CEO Magda Wierzycka says her firm calls investors if they allocate too much into their Life Bitcoin Plus ETF which launched in June.
A $20 billion South African asset manager has been warning their investors from investing too much in their Bitcoin exchange-traded fund (ETF) due to its price volatility.
In an interview on Monday, Magda Wierzycka, the CEO of Sygnia, told Bloomberg TV that the company will intervene to ensure clients don’t shift too much of their portfolio to its ETF, Sygnia Life Bitcoin Plus, which is benchmarked off BlackRock’s iShares Bitcoin Trust.
However, she later acknowledged that Bitcoin could be turning into a long-term play.
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