The global trend towards acceptance of Bitcoin-related investment products continues to strengthen, with six new investment funds set to launch in Israel.
According to a report from Calcalist on Wednesday, December 25, Israel’s securities regulator has given the green light to six investment funds that will track the price of Bitcoin (BTC).
The funds’ approval by the ISA last week paved the way for their debut on December 31, the report said.
Cacalist’s report shows that ISA expects all six funds – from Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav and IBI – to go live at the same time.
Simultaneous launch is a condition that the regulator has imposed on providers.
According to the report, the funds charge management fees between 1.5% and 0.25%. It is also noteworthy that one of the new funds is actively managed and the transaction initially takes place daily.
The impending launch of BTC investment funds in Israel is imminent as the crypto industry welcomes greater participation from institutional investors.
The United States, Europe, Hong Kong and Australia have made great strides in 2024 as Bitcoin and crypto exchange-traded products have entered their respective markets, leading to massive adoption.
In January 2024, the US Securities and Exchange Commission initiated the uptrend by approving several spot Bitcoin ETFs.
Since then, the ETFs have gobbled up billions of dollars in BTC. SoSoValue data shows that net assets in US spot BTC ETFs stood at $110 billion as of December 24th. This corresponded to over 5.7% of the Bitcoin market capitalization at the time. Cumulative net inflows were $35.49…
