Israel is set to introduce six Bitcoin-linked mutual funds on Dec. 31, marking a significant step in the country’s crypto investment landscape. Calcalist and Globes, two local media outlets reported.
Migdal Capital Markets (More), Ayalon Investments, Phoenix Investments, Meitav Investments and IBI introduced these funds.
Israel Securities Authority (ISA), according to the report has approved these funds. The initial version will only allow for daily trading, but in future versions they may be able to offer continuous trading.
Israel’s approval of Bitcoin-focused mutual funds reflects growing confidence in digital asset investments. This move highlights the country’s alignment with global trends and readiness to integrate crypto products into traditional financial frameworks.
Bitcoin ETFs success
Israel’s mutual funds launch at a period when cryptocurrency-based exchange-traded fund (ETFs) are showing remarkable success.
The US Bitcoin ETFs, which were launched in January, have experienced rapid growth in recent years. Since 2023 they are expected to be approved, and will attract billions of dollars in investment.
SoSoValue’s data indicates that this group of funds has amassed a total of 35 billion in cash and manages assets valued at more than 100 billion. BlackRock’s iShares Bitcoin Trust (IBIT) leads this growing market.
Market experts predict an exciting future of crypto ETFs. Bloomberg ETF Analysts Eric Balchunas, and James Seyffart expect a major boom by 2025. This is due to potential changes in SEC management.
They expect the launch of ETFs that are linked to major cryptocurrencies like Litecoin and XRP. However, some ETFs could face delays due to regulatory issues.
Coinbase also highlights the innovation potential in the ETF sector, such as mechanisms like the creation of in-kind and redemptions. These innovations could reduce costs and improve efficiency, thus strengthening ETFs in the crypto ecosystem.
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