Israel approves 6 Bitcoin funds, launching on December 31, 2024
Israel will launch six Bitcoin mutual funds simultaneously on December 31, 2024, after receiving approval from the Israel Securities Authority (ISA). These funds will be managed by leading investment companies such as Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav and IBI. Each fund will apply a management fee ranging from 0.25% to 1.5%.
This is an important step forward in improving regulation of cryptocurrency investment in Israel, a country that is usually quite cautious with this industry. These funds will allow investors to access Bitcoin via Israeli shekels, and trading will be limited to once per day, however, it is likely to expand to continuous trading in the future.
The approval is seen as the next step in a global trend of expanding Bitcoin funds, especially after the US SEC approved a Bitcoin spot fund in 2023, sparking huge interest from investors. private .
