Israel Greelights Six Bitcoin Funds

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Six Bitcoin mutual funds are set to launch on December 31 by Israeli fund managers, after receiving approval from the Israel Securities Authority.

These funds, which will be available on the Tel Aviv Stock Exchange, will follow several Bitcoin indices including BlackRock’s IBIT, S&P, and Chicago Stock Exchange benchmarks. The fund managers involved in this debut include Meitav, Migdal Capital Markets, IBI, and Ayalon.

The report does mention the iShares Bitcoin Trust, however, it is not specified which particular fund will be based on this index. IBI and Meitav’s funds will have a management fee of 0.25% and will track the S&P Bitcoin index and CME CF Bitcoin Reference Rate, respectively.

Migdal Capital Markets, a well-established investment house in Israel, will offer a fund that follows the Indxx Bitcoin Reference with a 0.25% fee. Ayalon will have an actively managed Bitcoin Exposure fund with a 0.8% management fee.