So what exactly is special about Israel?
It's not like it's a big economy like China and by the way, if this was China in the news, I am certain there would have been one small shake up in the market. Israel is just one of the mediocre nations when it comes to economic strength. To think that this could also make a headline is completely laughable.
Topic: Israel going to launch six Bitcoin based mutual funds next week (Read 32 times)
December 28, 2024, 10:27:31 AM
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Next week, Israel will witness the launch of six mutual funds that track the price of Bitcoin (BTC), following the approval from the Israel Securities Authority (ISA). This significant move marks a notable development in the country's financial market, reflecting the growing interest in cryptocurrency investments. According to Calcalist, all six funds will start their operations on the same day, December 31, a condition set by the regulator. Final approval for these funds was granted last week, paving the way for their debut.
The mutual funds will be offered by Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav, and IBI. Each of these funds will charge management fees ranging from as high as 1.5% to as low as 0.25%. Among these, one fund will be actively managed, with the goal of outperforming Bitcoin's market performance. Initially, these funds will transact only once a day, but future products might offer continuous trading, as reported by Globes.
This approval by the ISA comes almost a year after the U.S. Securities and Exchange Commission (SEC) approved spot Bitcoin exchange-traded funds (ETFs) in the United States. This approval in the U.S. has significantly influenced global markets, as Bitcoin's value has more than doubled since then, nearing a record high. The U.S. funds have attracted a substantial amount of investor interest, gathering a net $35.6 billion.
https://www.cryptocrit.xyz/2024/12/Bitcoin-based-mutual-funds.html
Next week, Israel will witness the launch of six mutual funds that track the price of Bitcoin (BTC), following the approval from the Israel Securities Authority (ISA). This significant move marks a notable development in the country's financial market, reflecting the growing interest in cryptocurrency investments. According to Calcalist, all six funds will start their operations on the same day, December 31, a condition set by the regulator. Final approval for these funds was granted last week, paving the way for their debut.
The mutual funds will be offered by Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav, and IBI. Each of these funds will charge management fees ranging from as high as 1.5% to as low as 0.25%. Among these, one fund will be actively managed, with the goal of outperforming Bitcoin's market performance. Initially, these funds will transact only once a day, but future products might offer continuous trading, as reported by Globes.
This approval by the ISA comes almost a year after the U.S. Securities and Exchange Commission (SEC) approved spot Bitcoin exchange-traded funds (ETFs) in the United States. This approval in the U.S. has significantly influenced global markets, as Bitcoin's value has more than doubled since then, nearing a record high. The U.S. funds have attracted a substantial amount of investor interest, gathering a net $35.6 billion.
https://www.cryptocrit.xyz/2024/12/Bitcoin-based-mutual-funds.html
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