The Israel Securities Authority has given the go-ahead for the launch of six Bitcoin -funds, which will debut on December 31.
The regulator expects all six ETF — Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav and IBI will start working simultaneously. This is one of the mandatory conditions that the agency presented to fund issuers.
According to local media reports, the issuing companies ETF Bitcoin-based assets will be charged a management fee of between 0,25% and 1,5%.
The decision to launch a fund that would track the value of the flagship asset was “a request from the Israeli crypto community.” Applications for bitcoin-based investment products have been coming to the Israel Securities Authority since June of this year.
Following spot trading debuts this year in the US, Europe, Hong Kong and Australia, Bitcoin - funds have achieved significant success, and regulators in other countries have become more favorable to them.
It all started in January 2024, when the US Securities and Exchange Commission approved the launch of 12 ETF based on the flagship cryptocurrency. Since then and through December 24, investors have poured more than $35,49 billion into the funds. Under the management of BTC- issuers ETF There are assets worth $110 billion. This is more than 5,7% of the current market capitalization of Bitcoin.
