There are no avenues that allow for a Bitcoin exchange-traded fund to be launched in South Africa as regulations currently stand, Sygnia investments co-head Kyle Hulett told MyBroadband.
It states: “The issuing and listing of derivative instruments or other securities that reference crypto assets as the underlying asset should not be permitted until further notice.” “Sygnia was days away from launching a Bitcoin ETN in 2018 but was then denied the listing,” he said. He highlighted that the United States has approved eleven spot Bitcoin exchange-traded funds , and Hong King has launched spot ETFs for Bitcoin and Ethereum.
They said recent regulatory changes have made it easier for independent financial advisors and discretionary fund managers to consider crypto investments, but others still can’t access the asset class. Nair said regulations over Collective Investment Schemes that aren’t governed by Regulation 28 would also need to be amended.
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Record bitcoin-ETF outflow buffets BlackRock, Fidelity FundsInvestors pulled a net $564m from the batch of almost a dozen funds on Wednesday, the biggest drawdown since the products debuted in January.
Source: Moneyweb - 🏆 5. / 77 Read more »