Israel to Integrate Bitcoin Into Mainstream Finance with New Fund Launches
by aria-crypto.com
December 26, 2024 at 08:39
Israel to Integrate Bitcoin Into Mainstream Finance with New Fund Launches
As Israel steps further into the cryptocurrency realm, the Israel Securities Authority (ISA) has greenlit the launch of six investment funds that will track Bitcoin's price movements. These funds, set to debut on December 31, are backed by reputable firms such as Migdal Capital Markets and More, among others. Each will employ different strategies and indices, including those that mimic U.S.-based ETFs like BlackRock's iShares Bitcoin Trust ETF. Not only will these funds offer investment opportunities through Israel’s fiat currency, but they will also execute transactions daily to mirror Bitcoin’s current value. Management fees for these financial products will range from 0.25% to 1.5%. This strategic movement in the financial sector coincides with the success of similar Bitcoin-centric funds in the U.S., promoting a global shift towards accepting cryptocurrencies. With the local launch, investors have a structured avenue to engage with Bitcoin, potentially positioning Israel as a significant player in the global crypto finance scene.
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