Six Bitcoin Funds to Launch in Israel Next Week

The global adoption of Bitcoin-related investment products is accelerating, with six new mutual funds set to debut in Israel on December 31, 2024. The Israel Securities Authority (ISA) has approved the funds, which will track Bitcoin’s price and cater to growing demand from institutional investors.

The six funds, managed by Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav, and IBI, will be launched simultaneously, a stipulation set by the ISA. The funds will charge management fees ranging from 0.25% to 1.5%. Notably, one of the funds will be actively managed, with transactions occurring once daily.

This launch comes amid a global trend of increased institutional involvement in the crypto market. In 2024, major markets such as the United States, Europe, Hong Kong, and Australia saw significant strides in crypto products, including Bitcoin exchange-traded funds (ETFs), fueling massive adoption. The U.S. Securities and Exchange Commission’s approval of multiple spot Bitcoin ETFs earlier this year contributed to an influx of funds into the Bitcoin market, with net assets in U.S. spot BTC ETFs reaching $110 billion by December 24.

Israel’s approval of these Bitcoin funds highlights the country’s growing interest in crypto investments and is a step toward deeper market integration. This move follows a surge in demand for Bitcoin-related products, with several firms filing prospectuses for such funds since June. The launch is expected to attract more institutional investors and offer a new avenue for the local market to gain exposure to Bitcoin.