Israel is set to launch six Bitcoin mutual funds on December 31, approved by the Israel Securities Authority.
Launch of Mutual Funds in Israel
Six firms, including Migdal Capital Markets and Phoenix Investment, will begin managing the funds simultaneously, as mandated by the authority.
Market and Management Conditions
Management fees range from 0.25% to 1.5%, with one actively managed fund aiming to outperform Bitcoin. Initial transactions will execute once daily, but future products may offer more flexibility.
Global Context and Prospects
The launch happens amid global integration of Bitcoin-related investment products. In the U.S., recent SEC decisions facilitate institutional investments in Bitcoin ETFs. By 2024, asset managers in Israel began filing for fund approvals, aligning with Israel's efforts to advance digital financial initiatives.
The launch of mutual funds in Israel will broaden access to cryptocurrency investments, enabling local investors to diversify their portfolios.
