“On December 31, six mutual investment funds based on bitcoin will debut on the Israeli market. This was reported by Calcalist. According to the publication, the Israel Securities Authority (ISA) approved the products last week. The funds will rely on indices from BlackRock, S&P and the Chicago Stock Exchange to track the price of the underlying asset. Only one issuer uses active management in an attempt to outperform the first cryptocurrency. The product launch was the result […]”, — write: businessua.com.ua
On December 31, six mutual investment funds based on bitcoin will debut on the Israeli market. This was reported by Calcalist.
According to the publication, the Securities Administration Israel (ISA) approved the products last week.
The funds will rely on indices from BlackRock, S&P and the Chicago Stock Exchange to track the price of the underlying asset. Only one issuer uses active management in an attempt to outperform the first cryptocurrency.
The launch of the products was the result of two years of lobbying and constant requests to the ISA, Calcalist noted. Representatives of the issuers told reporters that the change in the department’s approach took place in January, after the launch of spot bitcoin ETFs in the United States.
“Investment houses have been begging to approve the funds for over a year and started sending out prospectuses in the summer. But the regulator has his own pace, he has to check the details,” said one of the interlocutors of the publication.
He said the delay in approval was “regrettable” because it prevented investors from profiting from the cryptocurrency rally. Digital gold is up about 120% year-to-date.
We will remind you that the amount of assets under the management of American bitcoin-ETFs exceeded the amount of the first cryptocurrency at the disposal of its creator Satoshi Nakamoto.
Despite the outflow in recent days, as of December 23, products have accumulated $35.83 billion worth of digital gold.
The source