The Israel Securities Authority (ISA) has given the green light to six Bitcoin mutual funds, which are set to be launched on December 31. It marks the first time that Israeli investors will have access to mutual funds focused on Bitcoin.
These funds, offered by Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav, and IBI, will all become operational simultaneously, as mandated by regulators.
The management fees for these funds range from 0.25% to 1.5%, with one fund standing out for actively managing its portfolio in order to outperform Bitcoin’s market performance.
At the moment, transactions will be limited to once a day, but future funds may allow for continuous trading. Investment firms have been eagerly anticipating this moment for more than a year.
