The Israel Securities Authority (ISA) has officially approved six Bit Coin ETFs, which will be launched on 12/31. Most ETFs directly track the price movements of Bit Coin, while one ETF adopts an active management strategy with the goal of outperforming the Bit Coin market performance. These six ETFs not only further integrate Bit Coin into the local mainstream market, but also provide a new channel for the Israeli public to access crypto-currencies through the local fiat currency "New Shekel".
Table of Contents
ToggleSix ETFs Debut, Tracking Bit Coin with Diverse Strategies
According to local media reports, the six upcoming ETFs will adopt different investment strategies to track the price fluctuations of Bit Coin, some of which are referenced from products like BlackRock's iShares Bit Coin Trust ETF (IBIT).
While most of the ETFs are passively managed, directly tracking the price movements of Bit Coin, one ETF in particular is actively managed, aiming to outperform the Bit Coin market performance. According to the ETF types, the management fees range from 0.25% to 1.5%. Interested local residents can purchase these ETFs through Israeli banks or investment firms, with transactions executed once a day, reflecting the current Bit Coin price.
Six Major Asset Management Companies Join to Launch
These six ETFs are jointly launched by six well-known asset management companies in Israel, including Phoenix Investment, IBI-Kessem, Meitav, More, Ayalon, and Migdal. These asset management companies have previously launched funds investing in crypto-currency-related companies, but this is the first time they are directly launching a Bit Coin ETF, providing a new investment channel for local residents.
From Israel's CBDC to Bit Coin ETF, Driving Digital Innovation
The Israeli government has been continuously promoting the digital New Shekel (CBDC) project since 2023, aiming to enhance the liquidity of the local financial market and test the application of real-time payment systems. While the project has received some support, it has also sparked discussions on privacy issues. At the same time, the global Bit Coin fever is constantly rising, with "Bit Coin reserves" becoming a key part of the financial strategies of many countries.
Traditional finance users now have Bit Coin ETFs as a stepping stone to invest in Bit Coin, and the six ETFs launched in Israel allow local residents to use the New Shekel fiat currency as a medium for trading Bit Coin, simplifying the investment process and indirectly increasing the adoption of crypto-currencies locally. According to Coinglass data shows, the total market value of global Bit Coin ETFs has reached $114.6 Bln, indicating the high level of attention from global investors on such assets.
Risk Warning
Crypto-currency investments carry high risks, and their prices may fluctuate dramatically, potentially resulting in the loss of your entire principal. Please carefully evaluate the risks.
