Sygnia planning new Bitcoin exchange traded fund for South Africa

Hanno Labuschagne

Hanno Labuschagne

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Sygnia planning new Bitcoin exchange traded fund for South Africa

Sygnia is set to apply to the Johannesburg Stock Exchange (JSE) to list a new cryptocurrency exchange traded fund (ETF) in South Africa.

This is feedback from Sygnia CEO David Hufton, who was answering questions from MyBroadband about their plans in the cryptocurrency market.

A Bitcoin ETF tracks the price of the cryptocurrency and allows investors to buy into the digital currency without trading Bitcoin itself.
 
Jumped on the Sygnia hype train, currently transferring a fund to Sygnia and starting to regret it, their service is diabolical

Transferred a different fund to Allangray last year and in comparison the process was simple, quick, they were responsive and kept me informed

Sygnia? Fcking nightmare
 
nivek said:
Jumped on the Sygnia hype train, currently transferring a fund to Sygnia and starting to regret it, their service is diabolical

Transferred a different fund to Allangray last year and in comparison the process was simple, quick, they were responsive and kept me informed

Sygnia? Fcking nightmare
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Strange. Transferred a fund from Liberty to Sygnia recently and in the end the delay was with Liberty.
 
not a bad idea this, but then why go with Sygnia?
Luno offers its own version, and even a stable-coin that is liked to the USD

big financial houses aren't on the Blockchain bandwagon as of yet, still got lots of catching up to do.
for instance, look at FNB hostile actions towards BTC, is that really necessary?
 
eg2505 said:
not a bad idea this, but then why go with Sygnia?
Luno offers its own version, and even a stable-coin that is liked to the USD

big financial houses aren't on the Blockchain bandwagon as of yet, still got lots of catching up to do.
for instance, look at FNB hostile actions towards BTC, is that really necessary?
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They don't... this will be like the EC10 fund on Easy equities https://www.easyequities.co.za/crypto/ec10 hopefully at a much cheaper price.
 
backstreetboy said:
They don't... this will be like the EC10 fund on Easy equities https://www.easyequities.co.za/crypto/ec10 hopefully at a much cheaper price.
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so there is slowly buy in from the big financial houses, but then again,
it goes against everything they stand for, so how much buy in will they actually have?

I mean you can quite literally do everything yourself, you dont need brokers and commissions and expertise and all the rest of it.
so finance houses are just jumping onto the hype bandwagon, like they might jump on the bandwagon for Baseball cards or Simba Tazzos.
 
eg2505 said:
so there is slowly buy in from the big financial houses, but then again,
it goes against everything they stand for, so how much buy in will they actually have?

I mean you can quite literally do everything yourself, you dont need brokers and commissions and expertise and all the rest of it.
so finance houses are just jumping onto the hype bandwagon, like they might jump on the bandwagon for Baseball cards or Simba Tazzos.
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Not in the TFSA wrapper though whereas with this you can.
 
So launch a crypto ETF when it's at an all time high. Yeah the perfect time :thumbsup:
 
backstreetboy said:
Not in the TFSA wrapper though whereas with this you can.
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You don't get it in a TFSA wrapper. The TFA legislation prevents funds from consisting of commodities or single equities. Otherwise I would have jumped on it all arms in.
 
Competition is good. EC10 is good for what it is and served it's purpose with me, but the fee is expensive for an "ETF". Hopefully competition from Sygnia will change that.
 
Bitcoin: Let's democratise finance and cut financial institutions.
Financial Institutions : Let's wrap this thing anybody can trade with no gatekeepers so we can charge fees.
Community Next Steo: let's wrap the ETFs in block chain to democratise it.
Financial Instutions: Let's wrap the blockchain of ETFs of Blockchain currency in an ETF so we can charge more fees.
 
This is just a cunning move to capture future market share.

It's honestly easier just to sign up to a centralised crypto exchange and do it yourself.
 
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