🌐 As Bitcoin investment products continue to gain traction, Israel approves the launch of 6 Bitcoin funds

Driven by rising sentiment, global interest in Bitcoin investment products is on the rise. On December 25, the Israel Securities Authority (ISA) approved six new mutual funds that will track Bitcoin prices and are scheduled to make their formal debut on December 31.

According to Calcalist, six companies including Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav, and IBI are expected to simultaneously launch their respective funds, a condition set by the ISA for fair competition.

The management fees for these funds range from 1.5% to 0.25%, with one fund adopting an active management model, initially planning to trade at least once a day. This not only provides flexibility but also demonstrates an active attitude towards fund management.

As more institutional investors join the cryptocurrency market, Israel's move aligns with global trends. In 2024, Bitcoin and cryptocurrency exchange-traded products (ETPs) in the United States, Europe, Hong Kong, and Australia have made significant progress and have been widely adopted.

Notably, in the United States, the Securities and Exchange Commission approved several spot Bitcoin ETFs this January, initiating this growth trend. According to SoSoValue data, as of December 25, the net assets of the U.S. spot BTC ETF reached $110 billion, accounting for over 5.7% of Bitcoin's market capitalization, with a cumulative net inflow of $35.49 billion.

In summary, Israel's approval of these Bitcoin funds highlights the growing local market interest in cryptocurrency investment tools. The report also states that since June, numerous companies have submitted prospectuses for Bitcoin-related products, reflecting the market's enthusiastic pursuit of such investments.

With Israel approving 6 new Bitcoin funds and the significant growth in global demand for cryptocurrency investment products, this not only reflects the rising demand for Bitcoin products in the Israeli market but also marks a sign of the maturing global cryptocurrency market.

💬 As more countries and institutions embrace Bitcoin, will it change your view on traditional finance?

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