South Africa’s Sygnia Launches Bitcoin Fund Tied to Blackrock’s IBIT

Key Points

1. The Sygnia Life Bitcoin Plus Fund launched on June 1, 2025, and is available to living annuity and retail investors through Sygnia’s online platform.

2. The fund tracks the performance of Blackrock’s IBIT, the world’s largest spot Bitcoin ETF, bypassing South Africa’s regulatory hurdles for direct cryptocurrency products.

3. Sygnia previously attempted to list a Bitcoin ETF on the Johannesburg Stock Exchange (JSE) but was rejected twice due to lack of regulatory framework for cryptocurrencies.

4. The fund charges an annual management fee of 1.20% and warns investors about risks such as large-scale sales by major investors, security threats, and competition from central bank digital currencies.

5. Sygnia emphasizes that the fund eliminates the need for digital wallets or direct handling of private keys, simplifying Bitcoin investment for traditional investors.