According to a South African asset management company with an asset scale of 20 billion, due to the extreme volatility of Bitcoin prices, the company has been warning investors not to over-invest in its Bitcoin exchange-traded fund (ETF).
In an interview with Bloomberg TV, Sygnia CEO Magda Wierzycka pointed out on Monday that the company actively reminds clients to avoid allocating too much of their assets into the Sygnia Life Bitcoin Plus ETF, which is benchmarked against the iShares Bitcoin Trust under BlackRock.
However, she added that Bitcoin may be transitioning into a long-term investment option.
Wierzycka stated that as the second-largest diversified asset management company in South Africa, Sygnia's main concern is the volatility of Bitcoin prices.
The company also suggested in its documentation that the investment proportion in Bitcoin products should be controlled at no more than 5% of disposable assets or retirement pensions.
According to CoinGecko, in the past 24 hours, Bitcoin's price fluctuated between $111,644 and $114,548, while the seven-day range was between $111,933 and $117,851.
Sygnia's Life Bitcoin Plus was launched in June, and users cannot directly hold Bitcoin.
Wierzycka mentioned that the ETF has attracted significant inflows and attention, but did not disclose specific amounts.
According to Wierzycka, at the time of this statement, the company plans to launch more crypto ETFs on the Johannesburg Stock Exchange in the future, which had previously been hindered by regulatory restrictions.
Crypto exchange-traded products recorded $1.9 billion in inflows last week, with Bitcoin and Ethereum seeing inflows of $977 million and $772 million, respectively.
Wierzycka stated that although the company advises clients to limit their holdings in the Bitcoin ETF, she has changed her view on the cryptocurrency and believes it is a "long-term investment" rather than a speculative asset.
However, she noted that the current price is relatively high. Bitcoin remains above $112,000 following a recent market downturn.
Other executives in the crypto industry have predicted more optimistic price targets.
BitMEX co-founder Arthur Hayes speculated that the price of Bitcoin could reach $250,000 by the end of this year, while Strategy founder Michael Saylor recently reaffirmed his prediction that Bitcoin's price will reach $2.1 million by 2042.
According to related magazines, Bitcoin may experience "one last major surge" to $150,000, while Ethereum faces greater pressure—trading secrets.
Related: ETHZilla launches a new $350 million fund pool betting on Ethereum (ETH)
Original article: “South African ETF issuer warns investors about the risks of its Bitcoin (BTC) fund”
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