The Israeli Securities Authority (ISA) has approved the launch of six mutual funds that will track the price of Bitcoin, set to begin operations on December 31. One of the funds will adopt an active management approach, aiming to outperform the market and provide Israeli investors with a new channel to access the cryptocurrency market.
According to local media reports, these funds will reflect various indices and strategies of Bitcoin price movements and will be available for purchase at banks and investment companies starting December 31. Some new funds will track exchange-traded funds (ETFs) launched in the United States, 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 being opened up to the public.
The launch of these mutual funds is expected to be an important development in the Israeli financial market, potentially paving the way for further innovation in cryptocurrency investments. Behind these funds are 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 an active management approach, initially set to trade once a day.
This development aligns with global trends, as institutional investors are increasingly participating in the cryptocurrency market. For instance, in the United States, the Securities and Exchange Commission (SEC) has approved multiple Bitcoin spot ETFs, with total net inflows reaching $35.49 billion as of December 24. As of December 25, the total market value of all Bitcoin ETFs was approximately $143.2 billion.
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'Israeli Regulatory Approval! 6 Bitcoin Funds to be Listed, Investors Can Easily Access BTC' This article was first published on 'Crypto City'
