Vista Wealth can now help you to get exposure to USD Bitcoin returns in a regulated, convinient, safe and transparent manner:

• Regulated – ProShares Bitcoin Strategy ETF (BITO) is the first U.S. bitcoin-linked ETF listed and traded on the New York Stock Exchange
• Convenient – Investors can now utilise their offshore trading accounts with Vista Wealth to trade and invest in the BITO ETF
• Safe – No worries about hackers or thieves stealing your computer or the need for sophisticated wallets and private keys – your BITO ETF is recorded in your trading account like any share you buy
• Transparent – As the BITO ETF is traded on an international regulated stock exchange, investors have full access to pricing information with full knowledge about transactions

 

What is an ETF?
An exchange traded fund (ETF) is a type of security that tracks an index, sector, commodity, or other asset, which can be purchased or sold on a stock exchange the same way a regular share can. An ETF can be structured to track anything from the price of an individual commodity to a large and diverse collection of securities. In this case, the ETF is tracking the bitcoin price.

 

Why an ETF?
It is like asking if you should buy a gold bar or a gold ETF (like GLD) if you want to get exposure to gold? Of course, you’re going to buy the gold ETF! Who wants the shlep and security risks involved with storing a physical bar of gold?

 

What is the cost?
The ETF management fee of 0.95% is a little higher than what we’re used to in the ETF space. One of the main contributors to this cost is the hedging activities of the ETF provider (Proshares) utilising the cash-settled bitcoin futures contracts traded on the Chicago Mercantile Exchange. Brokerage and trading account fees are however our same competitive rates as when trading in offshore shares or other ETFs.

 

I’m interested, where do I sign?
Clients with existing offshore trading accounts do not have to do anything, you can just drop us a line to invest. For new clients, we first need to open an offshore trading account. Normal FICA requirements will apply.  A reminder that the minimum amount to open an offshore trading account in a wrapper is $25k. Once the account has been opened you can invest as little as $50 in the BITO ETF while gaining access to over 40,000 instruments across multiple asset classes through your offshore trading account.

 

Are you recommending Bitcoin as a good investment?
No, we’re merely assisting you to get exposure to Bitcoin in a regulated, convenient, safe, and transparent manner. We like the blockchain technology and think it is the way of the future, but like the rest of the world, we’re unable to value Bitcoin.

 

For more information, drop us an email at info@vistawealth.co.za or click here to view the BITO ETF prospectus.