The Future BTC ETF — TaSimba Investments

Investment Objective

Track Bitcoin futures. Through a rolling, disciplined strategy.

The Future BTC ETF is designed to track the performance of Bitcoin futures contracts traded on regulated global exchanges — primarily CME Group — through a transparent rolling 1-month futures strategy.

The fund holds no direct Bitcoin. All exposure is achieved through regulated, traceable, well-supervised futures markets, with positions held via licensed Futures Commission Merchants (FCMs).

This structure aligns with global regulatory preferences, eliminates direct crypto custody risk, and gives investors access through familiar brokerage channels in local currency.

At a Glance

Fund Type	Futures-based ETF
Underlying	CME Bitcoin Futures
Custody	Licensed FCM
Base Currency	USD (local share classes)
Benchmark	Rolling 1-Month BTC Futures Index
Primary Listing	Johannesburg Stock Exchange
Cross-Listings	VFSE • NSE • SEM
Domicile	Mauritius / South Africa

Why a Futures-Based Structure?

Institutional rigour. Investor protection. Regulatory clarity.

No Direct Crypto Risk

Investors gain Bitcoin exposure without exchange wallet risk, private key management, or unregulated counterparties. All positions held through licensed FCMs.

Regulated & Transparent

CME futures are among the most well-supervised derivatives markets globally. Combined with FSCA, FSC, SEC, and CMA oversight on the listing side, every position is traceable.

Local Currency Access

Investors trade the ETF through their existing brokerage relationships in ZAR, USD, or other local currencies — bridging global crypto markets with local financial ecosystems.

Daily NAV & Reporting

NAV calculated daily by independent administrators. Monthly investor reports and quarterly disclosures published with full position transparency.

Big Four Audit

Independent audit by a reputable international or regional audit firm — KPMG, PwC, EY, or Deloitte — ensures the highest standards of governance.

Risk Discipline

Strict margin and leverage controls. Counterparty and liquidity risk monitored continuously. Conservative rolling strategy designed to limit volatility drag.

Strategy & Structure

A multi-jurisdictional vehicle, engineered for the continent.

Jurisdiction	Role	Regulator	Exchange
Mauritius	Preferred fund domicile — favourable framework, DTAA network, GBC fund structure	Financial Services Commission (FSC)	SEM
South Africa	Primary listing market — strong institutional base and ETF infrastructure	FSCA	JSE
Zimbabwe	Secondary listing — USD-denominated access via Victoria Falls platform	SEC Zimbabwe	VFSE
Kenya	East African expansion under CMA regulatory sandbox	CMA Kenya	NSE

Key Partners & Stakeholders

An ecosystem of institutional partners.

Partner Type	Target Entities	Role
Regulators	FSCA, SEC Zimbabwe, CMA Kenya, FSC Mauritius	Licensing & compliance approval
Stock Exchanges	JSE, VFSE, NSE, SEM	Listing & trading venue
Fund Manager / ETF Issuer	10X Investments, Sygnia, Absa Capital, Old Mutual	Day-to-day management, reporting
Futures Exchange / Broker	CME Group, LMAX Digital	Futures execution & clearing
Custodian / FCM	Interactive Brokers, JP Morgan, regional custodian	Holding and clearing futures
Auditor & Administrator	PwC, EY, Deloitte, KPMG, Trident Trust	Governance, NAV, audits
Marketing Partners	Local brokers & fintech apps	Distribution to investors
Anchor Investors	Pension funds, asset managers, fintech funds	Seed capital and liquidity support

Risk Management

Disciplined controls. Continuous monitoring.

Margin & leverage controls — strict limits on futures positions to prevent over-leverage.
Counterparty monitoring — exposure only to regulated, high-credit brokers and exchanges.
Liquidity risk management — seed capital commitments and market-making arrangements.
Currency hedging — option for USD-based pricing or FX-hedged share classes.

Daily NAV calculation — independent administrator publishes NAV every trading day.
Position transparency — quarterly position disclosure to investors and regulators.
Independent third-party audit — annual audit by international firm.
Monthly investor reporting — performance, attribution, and exposure breakdown.

Africa's first regulated Bitcoin Futures ETF.