🌐 As Bitcoin investment products continue to heat up, Israel approves the launch of 6 Bitcoin funds
Driven by rising sentiments, global interest in Bitcoin investment products is on the rise. On December 25, the Israel Securities Authority (ISA) approved six new mutual funds that will track Bitcoin prices and are set to officially debut on December 31.
According to Calcalist, the six companies Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav, and IBI are expected to launch their respective funds simultaneously, a condition set by the ISA for fair competition.
The management fees for these funds range from 1.5% to 0.25%, with one fund adopting an active management model, initially planning to trade at least once a day. This not only provides flexibility but also demonstrates an active approach to fund management.
As more institutional investors join the cryptocurrency market, Israel's initiative resonates with global trends. In 2024, Bitcoin and cryptocurrency exchange-traded products (ETP) in the U.S., Europe, Hong Kong, and Australia have made significant progress and are being widely adopted.
Particularly in the United States, this January, the U.S. Securities and Exchange Commission approved several spot Bitcoin ETFs, marking the start of this growth trend. According to SoSoValue data, as of December 25, the net assets of U.S. spot BTC ETFs have reached $110 billion, accounting for over 5.7% of Bitcoin's market capitalization, with a cumulative net inflow of $35.49 billion.
In conclusion, Israel's approval of these Bitcoin funds highlights the growing local market interest in cryptocurrency investment tools. The report also mentions that since June, numerous companies have submitted prospectuses for Bitcoin-related products, showcasing the market's enthusiastic pursuit of such investments.
With Israel approving 6 new Bitcoin funds and the significant growth in global demand for cryptocurrency investment products, this reflects the warming demand for Bitcoin products in the Israeli market and is also a sign of the maturation of the global cryptocurrency market.
💬 As more countries and institutions embrace Bitcoin, will it change your view of traditional finance?
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