Bitcoin Mutual Funds to Be Launched in Israel
Date: 2024-12-27 Author: Henry Casey Categories: IN WORLD
The launch of Bitcoin mutual funds in Israel is planned after a long period of lobbying and numerous inquiries to the local securities authority. The BlackRock, S&P, and Chicago Stock Exchange indices will be used to monitor the price of Bitcoin. According to sources of the Calcalist publication, the preparation process took about two years.
Representatives of the issuing companies note that an important shift in the regulator's attitude occurred in January of this year, when the first spot Bitcoin ETFs began operating in the United States. According to one of the executives, the delay in the decision from the Israeli regulator deprived investors of the opportunity to profit from the significant increase in the price of Bitcoin this year.
Despite this, the representatives of the companies expressed understanding that verification of all the information provided was necessary to ensure the transparency and security of the new investment products. One of the sources added that the regulator has its own priorities and deadlines that need to be taken into account.
Analysts at CF Benchmarks said in a recent report that interest in cryptocurrency ETFs based on Bitcoin and Ethereum will increase significantly as early as 2025. According to their forecasts, investment consultants will increase their investments in such funds by more than 50%.
A new stage in the development of cryptocurrency-based investment products in Israel is likely to open up additional opportunities for institutional and private investors.
