Are you ready for some exciting news? Six brand-new mutual funds that track the value of Bitcoin (BTC) are set to launch in Israel next week! This development follows the recent approval by the Israel Securities Authority (ISA). Interestingly, all six funds will commence operations on the same day – December 31st, as mandated by the regulatory body.
The launch of these funds marks a significant milestone in Israel’s financial landscape. With fees ranging from 0.25% to a maximum of 1.5%, investors can now easily access Bitcoin investments through their preferred financial institutions. Among the fund managers are well-known companies like Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav, and IBI.
One of the key highlights of these funds is that they will offer both active and passive management options. This means that some funds will aim to outperform Bitcoin’s performance, while others will simply track its value. To ensure seamless trading, the ISA has mandated that the funds will initially only operate once daily.
However, future products are expected to offer continuous trading capabilities. The launch of these Bitcoin funds in Israel comes hot on the heels of similar developments in other major global markets. Notably, the U.S. Securities and Exchange Commission (SEC) recently gave the green light to spot Bitcoin exchange-traded funds (ETFs), paving the way for institutional investors to gain exposure to the digital asset class.
As the popularity of cryptocurrencies continues to soar, it’s clear that investors are eager to get in on the action. With the launch of these new Bitcoin funds, Israeli investors now have even more opportunities to diversify their portfolios and capitalize on the growth potential of digital assets.
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