It has been a wild, wild fortnight for cryptocurrency investors, even by crypto’s standards of volatility. However, while a recent report released by Goldman Sachs suggests that institutional investors are increasingly seeing cryptocurrencies as an asset class, South African asset managers re.
South Africa firms rushing to list first digital currency ETF in Africa Business
South African firms are in advanced stages of applying for the first digital currency exchange-traded fund (ETF) in Africa. According to local reports, two local firms are set to lodge their applications with the Johannesburg Stock Exchange, which has rejected such an application in the past.
One of the firms seeking to list the first digital currency ETF on the JSE is DCX Capital. In a recent podcast, co-founder Earle Loxton claimed that plans are afoot to launch the first ETF in Africa’s second-largest economy. The firm is set to apply for the ETF with JSE ‘very soon,’ he revealed.
New Bitcoin ETF planned for South Africa mybroadband.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mybroadband.co.za Daily Mail and Mail on Sunday newspapers.
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:
MONEYWEB
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Institutional investors would have exposure to bitcoin. 11:00
EC10 co-founder Earle Loxton talks about the recent management fee increases, and the company’s plans to launch an exchange-traded fund (ETF) offering institutional investors exposure to bitcoin, but under the watchful eye of the JSE.
AUTHOR
PROFILE
Ciaran Ryan is a Johannesburg-based freelance writer who has a background in finance and mining, having previously headed up a gold mining operation in Ghana. He currently writes for several SA and overseas journals on matters ranging from mining to investment.
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