{"id":56099,"date":"2021-04-16T09:01:50","date_gmt":"2021-04-16T09:01:50","guid":{"rendered":"https:\/\/www.cryptocabaret.com\/?p=56099"},"modified":"2021-04-16T09:01:50","modified_gmt":"2021-04-16T09:01:50","slug":"co-founder-of-south-africas-crypto-index-fund-reveals-the-plan-to-launch-countrys-first-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/www.cryptocabaret.com\/?p=56099","title":{"rendered":"Co-Founder of South Africa\u2019s Crypto Index Fund Reveals the Plan to Launch Country\u2019s First Bitcoin ETF"},"content":{"rendered":"

\"Co-Founder<\/p>\n

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\u2019s first exchange-traded fund (ETF). The ETF is expected to offer South African institutional investors an indirect way of getting exposure to bitcoin. <\/strong><\/p>\n

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 <\/a>that before proceeding with the application, EC10 alongside Easy Equities will initially prioritize finding a suitable custodian for its crypto assets. Loxton explained:<\/p>\n

\n

To get to the level where we will be compliant with the requirements of a listed instrument, we definitely need the services of a dedicated, regulated and registered custodian.<\/p>\n<\/blockquote>\n

Therefore, as part of an arrangement, Easy Equities, which acquired<\/a> the controlling stake in DCX Capital in 2020, will help secure the services of a custodian. This custodian will safely store some of the ten crypto assets that constitute the EC10 Index.<\/p>\n

<\/ins> <\/ins> <\/p>\n

Meanwhile, during the podcast, Loxton also took the time to explain the decision to hike the EC10 management fees from 1% to 2%. In justifying the fee increase, the fund\u2019s co-founder said:<\/p>\n

\u201cAt 1% to be absolutely honest with you, we were never going to make a profit at 1% growing at that rate.\u201d<\/p>\n

Loxton also adds that because the business, which now has $27 million worth of assets under management, experienced a slow start, it, therefore, made sense to hike the fee. The EC10 index fund.<\/p>\n

Do you believe that the JSE is now ready to approve a crypto ETF? Tell us what you think in the comments section below. <\/strong><\/em><\/p>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

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\u2019s 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 […]<\/p>\n","protected":false},"author":2,"featured_media":56100,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309],"tags":[],"class_list":["post-56099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/56099","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56099"}],"version-history":[{"count":0,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/56099\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/media\/56100"}],"wp:attachment":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}