Israel is getting prepared to welcome six Bitcoin (BTC) mutual funds. This launch will come one week after the Israel Securities Authority (ISA) granted final approval for the products. It also comes almost a year after the Securities and Exchange Commission (SEC) greenlighted spot Bitcoin ETF products in the United States.
Israeli Bitcoin Fund debut, Key Details
These new Israeli products will track the price of BTC and are set to commence operation as from December 31.
Noteworthy, the regulator mandated that all six Bitcoin mutual funds starts trading on the same day. According to Isreali newspaper Calcalist, Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav and IBI will offer the funds.
The management fees for the funds will fall within the range of 1.5% to 0.25%. Out of all six, one particular fund will be actively managed, with the goal of outperforming Bitcoin. One of the funds will directly track BlackRock Bitcoin ETF, giving direct exposure to the US-focused product.
For a start, the funds will transact just once a day. On the other hand, future products will trade continuously. Judging by how much the United States has benefited from the debut of spot crypto ETFs, Isreal may be entering into a new phase of digital growth.
In a few months, the US, spot Bitcoin ETFs secured more than $35.6 billion of investor cash. However, by the second week of December, the total Assets Under Management (AUM) for the Bitcoin ETF products crossed $100 billion.
At this point, market analysts have started projecting that these products may overtake Gold ETFs by the end of the year. The Ethereum counterpart is not doing bad either as BlackRock ETHA recorded ten consecutive days of inflows in mid-December amassing over $1.3 billion.
Ethereum ETF growth has compelled crypto analysts to predict that ETH price could reach $15,000 within the next 6 to 8 months.
BTC Price Outlook
Meanwhile, Bitcoin is currently trading at $98,583.53 after registering a 2.13% increase in the last 24 hours.
This price level is still a drop drop from its All-time-high (ATH) of around $108,000. Since it previously reached this level, the optimism for further growth filled the ecosystem. In earlier Bitcoin price analysis, market experts like Matrixport teased a potential rally to $160,000 in 2025
From its current level, the coin would need to register more than a 50% increase to attain this price mark. While many hold onto this bullish projection, critics like Peter Schiff sees the coin dropping considerably soon.
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