Israel Enters the Crypto ETFs Game With Six Bitcoin Mutual Funds Launching December 31

Israel is entering the field of crypto ETFs, probably with an eye on their rapid development in the US. Specifically, the Israeli Securities Authority (ISA) has approved the launch of six Bitcoin mutual funds starting December 31.

Israel is entering the crypto ETF arena, likely driven by the rapid developments in the US. Specifically, the Israeli Securities Authority (ISA) has approved the launch of six Bitcoin mutual funds starting December 31.

These funds will be managed by local firms and offer varying degrees of Bitcoin exposure, with management fees ranging from 0.25% to 1.5%.

More About Israel's Entry Into Crypto ETFs

As reported by local sources, the move is the result of years of efforts by local financial institutions and companies to gain access to high-yield investment instruments such as Bitcoin ETFs, which have seen impressive performance in the US.

In this case, the funds will be managed by six leading firms: Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav, and IBI. They will offer varying degrees of Bitcoin exposure, and the asset management fees will range from 0.25% to 1.5%.

Initially, the trading will be once a day, but the firms are planning to introduce continuous trading and other expansions of their services. Their optimism about Bitcoin and the role of ETFs in this can be gauged from their statements.

Ayal Goren, deputy CEO of IBI's fund company, said:

“It cannot be argued that the approval of the Securities Authority was one of the reasons that pushed the price of Bitcoin up. Once they started making the product available to the public – it changed the game.”

Ayal Haim, VP of Ayalon Mutual Funds, said:

“For years, we, as an investment house, have been trying to connect with the digital currency sector. We have launched a mutual fund that deals with companies in the field, recognizing that their price is derived from changes in digital currencies.”

Conclusions

Israel is making its entry into the crypto ETF scene, and this is无疑 a major step for them. How successful they will be in this and whether they will be able to keep up with the developments in the US remains to be seen.

Stay informed and be on the lookout for more updates.

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