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6 hours ago Co-Founder of South Africa s Crypto Index Fund Reveals the Plan to Launch Country s First Bitcoin ETF
Earle Loxton, the cofounder of EC10 (formerly DCX Capital) the institution behind the South African crypto index fund, says plans are afoot to launch the country’s first exchange-traded fund (ETF). The ETF is expected to offer South African institutional investors an indirect way of getting exposure to bitcoin.
According to Loxton, an application for this ETF will soon be lodged with the Johannesburg Stock Exchange (JSE). However, Loxton also reveals in a podcast that before proceeding with the application, EC10 alongside Easy Equities will initially prioritize finding a suitable custodian for its crypto assets. Loxton explained:
Charles Savage on democratising access to investing:
The key was the mission statement and the purpose, which was to democratise access – not the income statement. What we wanted to do was to get mass adoption of investing in shares. We realised that if we did that, we could make a decent amount of money. In order to democratise anything, you have to eliminate the friction points for the entire population.
Accessing a share like Naspers, with wherever it is now – R3,000 a stock – and you’ve only got R100 to invest is a huge friction point. For us, cost was a friction point we needed to address, which we’ve dealt with. But there were lots of other things in the platform capability that we had to stay true to, if we wanted to stand behind our mission statement, which was to democratise it.
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app instead?
Want to start investing? Hereâs what to consider
Venturing into investments can be intimidating. Elke Brink of PSG Wealth discusses what to consider, outlines various investment vehicles, and shares some advice on how to build a share portfolio. 00:29
This is one of the greatest gifts you can give your future self.
As Albert Einstein said:
âCompound interest is the eighth wonder of the world, he who understands it, earns it; he who doesnât, pays it.âÂ
1. Is it ever advisable to take out a loan and using those funds to invest?
Yes, in certain market circumstances this can be a very good opportunity. When interest rates are at a low (as currently) and market returns are very promising (as we are also currently experiencing), technically at an all-time high locally and globally, you can make exceptional returns.
On the Money. Budding stock market investor Jarryd Neves, of BizNews, sends out an invitation to everyone who wants to ask questions about share investing – but is too embarrassed to ask. Write to [email protected] And tune in for his regular Monday column: On the Money
Mention the word ‘budget’ to someone who’s just landed their first job and their smile will quickly dissolve into a frown, with eyes as dead as the night. Yes, budgeting is a rather boring – but essential – thing that we all should do, but don’t.
It may not be exciting or allow you to blow your payslip as you wish, but it does teach you to manage your money and gain a modicum of financial discipline. Perhaps a less dreary way to describe a budget is to call it your spending plan. Working out how much you’re prepared to spend and save each month can simplify things and make sure that you’re always covered for the essentials.