On December 31, six Bitcoin-based mutual funds will debut in the Israeli market. This was reported by Calcalist.
According to the publication, the Israel Securities Authority (ISA) approved the products last week.
To track the price of the underlying asset, the funds will rely on indices from BlackRock, S&P, and the Chicago Stock Exchange. Only one issuer uses active management in an attempt to outperform the first cryptocurrency.
The launch of the products was the result of two years of lobbying and constant requests to the ISA, Calcalist noted. Representatives of the issuers told journalists that the change in the agency's approach occurred in January, after the launch of spot Bitcoin ETFs in the USA.
So I'm holding my Bitcoins!!!