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Israel to Launch Six Bitcoin Mutual Funds Tracking BlackRock ETF
Israel is set to enter the Bitcoin mutual fund market with the debut of six new investment products, marking a significant development in the country’s digital asset space. The launch follows approval granted by the Israel Securities Authority (ISA) and is expected to occur on December 31.
The six Bitcoin mutual funds will track the price of Bitcoin (BTC) and commence operations by the end of the year. According to local reports, these funds will be managed by leading Israeli firms, including Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav, and IBI. One of the funds will track the BlackRock Bitcoin ETF, which offers exposure to U.S.-based Bitcoin investments.
These funds are structured to provide a wide range of investors with access to Bitcoin, a market that has witnessed considerable interest since the introduction of spot Bitcoin ETFs in the U.S. in 2023. While initially, these funds will only trade once a day, there are plans for future products to enable continuous trading.
Fees and Active Management
The management fees for the new Israeli funds will vary, ranging from 0.25% to 1.5%. One of the funds will be actively managed with the intention of outperforming Bitcoin’s price performance. This strategy reflects growing investor demand for actively managed products seeking higher returns in digital assets.
These fees align with the broader trend of spot Bitcoin ETFs, which have become popular in the U.S. With over $35.6 billion in assets under management within the first few months of launch, the funds’ success has inspired other markets, such as Israel, to enter the space.
Bitcoin and Crypto Market Trends
Bitcoin is currently priced at approximately $98,583.53, reflecting a 2.13% increase in the last 24 hours. Despite this positive movement, it remains below its all-time high of around $108,000. As analysts predict a potential rally to $160,000 by 2025, the excitement surrounding Bitcoin’s prospects is palpable.
However, some market figures, such as Peter Schiff, continue to express concerns about the long-term price trajectory of Bitcoin. The launch of these funds in Israel signals a broader trend of mainstream adoption for crypto investment products.
Source: www.crypto-news.net
