Israel is set to launch six Bitcoin mutual funds by the end of the year, having received final approval from the Israel Securities Authority. The funds will begin trading on December 31.
Launch of Bitcoin Mutual Funds in Israel
Managed by companies like Migdal and Meitav, the Bitcoin funds offer both active management to outperform market metrics and passive index tracking, with management fees ranging from 0.25% to 1.5%.
Global Crypto Trends and Israel
The approval indicates Israel's growing interest in cryptocurrency investments, following global trends. Earlier this year, the US also approved spot Bitcoin ETFs, leading to a significant rise in Bitcoin’s value.
Regulatory Changes Worldwide
Israel's developments are part of a global trend towards stricter regulations on digital currencies. Turkey, for instance, has recently enacted stricter AML regulations for users exceeding certain transaction limits.
The new phase for cryptocurrency investments in Israel highlights the global shift towards digital asset approaches and associated regulatory frameworks.
