Overview

• Sygnia’s Sygnia Life Bitcoin Plus fund, launched in June, has drawn “very, very significant” inflows and benchmarks to the iShares Bitcoin Trust ETF.
• The firm recommends limiting crypto to no more than 5% of discretionary or retirement portfolios and discourages larger reallocations.
• Executives are directly contacting investors who try to move large sums or entire portfolios into the fund to caution against concentration risk.
• CEO Magda Wierzycka warns that Bitcoin’s high volatility could wipe out life savings in South Africa, where per capita income is about $15,990.
• Sygnia plans to seek approval for additional crypto ETFs on the Johannesburg Stock Exchange after an earlier attempt was blocked by regulators.