#BitwiseBitcoinETF launch of bitcoin mutual funds

The funds will rely on indices from BlackRock, S&P and the US Chicago Stock Exchange to track the price of the underlying asset. The launch of the bitcoin-based products was the result of two years of lobbying and regular inquiries to the Securities Division, sources told Calcalist.

Representatives of issuing companies said the change in the agency's approach came in January, when spot bitcoin-ETFs were launched in the US. According to one of the top managers, the delay in approving the launch of bitcoin-based mutual funds prevented investors from profiting from the first cryptocurrency's rally this year.

At the same time, the Calcalist interviewee admitted that the regulator has its own timetable and needed to verify all the information provided from companies before granting permission to launch bitcoin funds.

Earlier, analysts at CF Benchmarks said that investment advisors will increase their investments in bitcoin and ether-based crypto-ETFs by more than 50% in 2025.