Israel Launches Six Bitcoin-Linked Mutual Funds on December 31
Israel is set to enter the cryptocurrency market with the launch of six Bitcoin-linked mutual funds on December 31, 2024. The Israel Securities Authority (ISA) has given the green light to these funds, which aim to replicate the performance of established funds like iShares Bitcoin Trust (IBIT) and S&P Bitcoin Index.
The success of cryptocurrency-based ETFs in other markets has served as a model for these new mutual funds in Israel. The funds are expected to attract both retail investors and large institutions interested in digital assets. While there are no specific search results indicating which financial institutions will introduce these funds, their approval signals Israel's alignment with global trends in cryptocurrency regulation.
Management fees for these funds will range from 0.25% to 1.5%. The regulation of these funds ensures regular audits and compliance with transparency and accountability standards, providing investors with a regulated and accessible way to participate in the cryptocurrency market.
The approval of these Bitcoin-linked mutual funds is a significant step for Israel's cryptocurrency landscape. It not only demonstrates the global importance of Bitcoin but also Israel's interest in capitalizing on the cryptocurrency trend, further positioning the country among global financial trends.
Read also:
- HLC Approves ₹4,645.60 Crore for Flood Recovery and Wetland Rejuvenation in Nine States
- Crooked House Pub's Demolition: Council Orders Rebuild, Debate on Historic Building Protections
- Floods Force Wild Animals to Escape Sanctuaries in West Bengal
- Shaping India's Economic Progression: Readying the Financial System for Tomorrow
