Israel's Crypto Revolution: Six Bitcoin Mutual Funds to Go Live Next Week!
This is big news in the cryptocurrency market! Israel will launch six Bitcoin mutual funds after obtaining approval from the Israel Securities Authority (ISA) on December 31, 2024. This move marks Israel's official entry into the market for cryptocurrency-based financial products, keeping up with global trends.
These funds will be managed by major financial institutions, with management fees ranging from 1.5% to 0.25%. Among them, one fund adopts an active management strategy with the goal of outperforming the Bitcoin market, providing a richer range of investment options, and seizing growth opportunities in digital assets. This is similar to the spot Bitcoin ETF recently approved by the United States, which means that Bitcoin's market influence continues to increase. As Bitcoin prices continue to rise, these funds are expected to attract a large amount of capital inflows, accelerating the pace of mainstreaming of cryptocurrencies.
The launch of this fund shows that Israel is committed to occupying a place in the global crypto ecosystem while ensuring that investors can participate in digital asset investments within a compliant framework.
