According to PANews, South African asset manager Sygnia Ltd. has advised investors against allocating all their assets to the high-risk Sygnia Life Bitcoin Plus fund, which tracks the iShares Bitcoin Trust ETF. The fund has seen Bitcoin rise 82% year-to-date, but Sygnia recommends no more than 5% of assets be allocated to such crypto funds due to Bitcoin's high volatility and potential for significant losses in extreme market conditions. The company plans to launch more crypto ETFs on the Johannesburg Stock Exchange once regulations permit.
South African Asset Manager Sygnia Warns Against Full Allocation to Bitcoin Fund
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