Israel is set to introduce six new mutual funds tied to Bitcoin's performance on December 31, marking a significant step towards integrating cryptocurrencies into investment products. Licensed by the Israel Securities Authority, these funds will allow investors to access Bitcoin through the local currency, shekel. The funds will track Bitcoin's price using various methods, including indexes and active management, with some even monitoring leading U.S. Bitcoin ETFs. Management fees are expected to range from 0.25% to 1.5% to attract investors. This move follows two years of regulatory discussions and signals Israel's growing interest in cryptocurrencies. The launch also aligns with the country's exploration of blockchain technology, including the development of a Digital Shekel. By offering Bitcoin-tracking funds, Israel is embracing institutional acceptance of cryptocurrency investments and catering to the demand for emerging digital assets in the financial market. Read more AI-generated news on: https://app.chaingpt.org/news

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