The Israel Securities Authority (ISA) approved six investment funds to track Bitcoin price movements, operational from December 31.
Approval of Investment Funds
The Israel Securities Authority (ISA) has officially approved the launch of six investment funds to track Bitcoin price movements. These funds will start operations on December 31 and will be available for purchase through banks and investment companies.
Operational Conditions
The funds will be offered by leading investment firms including Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav, and IBI. Management fees range from 0.25% to 1.5%. Some funds will track U.S.-based ETFs like BlackRock’s iShares Bitcoin Trust ETF, while one fund will be actively managed to outperform Bitcoin's price.
Investor Potential
These funds will provide local investors with access to Bitcoin through Israel’s fiat currency. Initially, the funds will execute buy and sell orders once a day, reflecting the current price of Bitcoin.
The approval of these funds offers new opportunities for Israeli investors interested in Bitcoin, expanding the horizons of cryptocurrency usage in the country.
