Title: Israel Set to Launch Six Bitcoin Mutual Funds, Reflecting Growing Confidence in Cryptocurrency Investments
Israel is taking a significant step towards embracing cryptocurrency investments by introducing six Bitcoin-linked mutual funds on December 31st. According to reports by local media outlets Calcalist and Globes, the funds were introduced by prominent financial institutions such as Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav, and IBI.
This move comes after the Israel Securities Authority (ISA) gave its approval last week. These newly launched mutual funds will initially operate with single daily transactions but may eventually offer continuous trading capabilities. The approval of these Bitcoin-focused mutual funds demonstrates Israel’s readiness to integrate digital asset investments into its traditional financial frameworks and aligns itself with global trends.
This development comes amid the remarkable success of crypto-based exchange-traded funds (ETFs), which have seen rapid growth since their introduction earlier this year. According to data from SoSoValue, US spot Bitcoin ETFs have amassed total inflows of $35 billion and collectively manage assets of more than $100 billion.
BlackRock’s iShares Bitcoin Trust (IBIT) currently leads the market. Market experts predict an even brighter future for crypto ETFs, forecasting a significant boom in 2025 driven by potential shifts in SEC leadership. They anticipate the launch of ETFs linked to major cryptocurrencies such as Litecoin, Solana, and XRP, though some may face regulatory delays.
Coinbase has also highlighted the potential for innovation in the ETF space, including mechanisms like in-kind creations and redemptions. This move by Israel signals a growing confidence in cryptocurrency investments and marks another milestone in the integration of digital assets into mainstream finance.
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