The Israel Securities Authority (ISA) has approved the launch of six mutual funds that will track the price of Bitcoin, scheduled to begin operations on December 31. One of the funds will adopt an actively managed approach, striving to outperform the market and provide Israeli investors with a new avenue to access the cryptocurrency market.
According to local media reports, these funds will reflect various indices and strategies based on Bitcoin price movements and will be available for purchase at banks and investment companies starting December 31. Some of the new funds will track exchange-traded funds (ETFs) launched in the U.S., such as BlackRock's iShares Bitcoin Trust ETF (IBIT).
These funds are expected to attract the interest of retail and institutional investors seeking diversified portfolios. This approval is part of a broader trend of increasing acceptance of cryptocurrencies and related financial products in Israel and globally. As the regulatory framework continues to evolve, more investment options are becoming available to the public.
The launch of these mutual funds is expected to be an important development in Israel's financial market and may pave the way for further innovation in the cryptocurrency investment space. The funds are backed by Israeli mutual fund management companies—Phoenix Investment, IBI-Kessem, Meitav, More, Ayalon, and Migdal. Management fees will range from 0.25% to 1.5%. One of the new funds will track multiple indices, including BlackRock's IBIT and the S&P index, while another will adopt active management, initially set to trade once daily.
This development aligns with global trends, as institutional investors are increasingly participating in the cryptocurrency market. For example, in the U.S., the Securities and Exchange Commission (SEC) has approved several Bitcoin spot ETFs, and as of December 24, the net inflow into these ETFs totaled $35.49 billion. As of December 25, the total market capitalization of all Bitcoin ETFs was approximately $143.2 billion.
"Regulatory approval obtained! Israel will launch six mutual funds tracking Bitcoin" this article was first published on (Block客).
