Six Bitcoin Funds Set to Launch in Israel Next Week
Next week, six new funds in Israel will start tracking the price of Bitcoin after receiving approval from the Israel Securities Authority.
Reports from local media state that these funds will follow Bitcoin’s price movements through different indexes and methods, and will be available for purchase at banks and investment firms starting Dec. 31.
Some of the funds will replicate the performance of Bitcoin ETFs launched in the US, including BlackRock’s iShares Bitcoin Trust ETF (IBIT).
One of the funds will be actively managed in order to outperform the performance of the cryptocurrency. As of Dec. 25, all Bitcoin ETFs combined have a market capitalization of approximately $143.2 billion.
The new funds are managed by mutual fund managers in Israel such as Phoenix Investment, IBI-Kessem, Meitav, More, Ayalon, and Migdal. Management fees will range from 0.25% to 1.5% to 0.25%.
