Israel to launch bitcoin mutual funds next week

Israel is set to launch several mutual funds tracking bitcoin’s value next week, following approval by the Israeli Securities Authority.

Investment houses such as Meitav, IBI, Migdal Capital Markets, and Phoenix Investment will debut these funds, charging management fees of up to 1.5 per cent, according to local media reports.

The move reflects growing regulatory support and institutional adoption of digital assets in Israel. “Investment houses have been pushing for bitcoin funds for over a year,” an industry executive told Calcalist, though progress has been cautious.

The launch aligns with global trends, with US bitcoin ETFs attracting significant investor interest, including $475.2 million in net inflows on December 26. Other markets, like Hong Kong, have also seen increased trading in bitcoin and ether ETFs this year.

Attribution: The Street

Subediting: Y.Yasser