A $20 billion South African asset manager, Sygnia, warns investors about the volatility of its Bitcoin ETF, Sygnia Life Bitcoin Plus, benchmarked off BlackRock’s iShares Bitcoin Trust. CEO Magda Wierzycka advised against investing more than 5% of discretionary assets or retirement annuities in the ETF due to Bitcoin’s price volatility.

Bitcoin has been trading between $111,644 and $114,548 per coin in the last 24 hours, with a seven-day range of $111,933 to $117,851. Sygnia plans to launch more crypto ETFs on the Johannesburg Stock Exchange after the success of its Life Bitcoin Plus ETF, which has seen significant inflows.

Despite warning against excessive exposure to Bitcoin ETFs, Sygnia CEO Magda Wierzycka now sees Bitcoin as a long-term play, though she believes it is overpriced at current levels. Other industry executives have more bullish price predictions for Bitcoin, with some speculating it could reach $250,000 per token by the end of the year.

Read more at Cointelegraph: South Africa’s Sygnia Urges Caution on Bitcoin ETF Exposure