The Israel Securities Authority (ISA) has granted approval for six bitcoin mutual funds to debut in Israel on December 31, 2024. This announcement follows the groundwork laid by the U.S. Securities and Exchange Commission, which approved spot bitcoin exchange-traded funds almost a year earlier. The six mutual funds will be launched by various investment firms, including Migdal Capital Markets and Phoenix Investment, with management fees ranging from 0.25% to 1.5%. Notably, one of the funds will employ an active management strategy aimed at outperforming bitcoin's price performance. While initially limited in trading frequency, future products may allow for continuous trading. This launch marks a significant step in the Israeli financial landscape, reflecting a growing interest in cryptocurrency investments among institutional players. The approval comes amidst a backdrop of considerable investor cash flow into U.S. bitcoin funds, which have accumulated approximately $35.6 billion in net investments, showcasing a robust demand for regulated bitcoin investment products.

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