As a seasoned researcher with a penchant for the digital realm and a knack for spotting trends, I find myself intrigued by Israel’s bold move to welcome six Bitcoin mutual funds. Having witnessed the meteoric rise of Bitcoin ETFs in the US, this move strikes me as a strategic step towards embracing the future of finance.
Preparations are underway in Israel for the arrival of six mutual funds based on Bitcoin (BTC). This launch will follow closely on the heels of final approval given by the Israel Securities Authority (ISA) a week ago, and nearly a year after the U.S. Securities and Exchange Commission (SEC) approved Bitcoin spot ETF products in the United States.
Israeli Bitcoin Fund debut, Key Details
Beginning on December 31, these fresh Israeli inventions will begin functioning and monitor the value of Bitcoin.
As a crypto investor, it’s worth noting that all six Bitcoin mutual funds will commence trading simultaneously, as per regulatory requirements. According to reports from Calcalist, a prominent Israeli newspaper, these funds will be made available by established financial institutions such as Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav, and IBI.
For the various funds, the management fees will vary between 1.5% and a lower end of 0.25%. Notably, one fund among these six will be actively managed, aiming to surpass Bitcoin’s performance as its primary objective. On the other hand, another fund within this group will provide direct access to the BlackRock Bitcoin ETF, offering a focus on the US-centric product.
Initially, transactions will occur only once per day with the funds. Conversely, upcoming products are designed for continuous trading. Given the significant positive impact that U.S. spot crypto ETFs have had on their market, Israel seems poised to embark on a fresh era of digital expansion.
Over the course of a few months, American investors poured over $35.6 billion into Bitcoin Exchange-Traded Funds (ETFs). By the second week of December, these Bitcoin ETF investments surpassed the $100 billion mark in total value managed (AUM).
Currently, market experts are predicting that these products could potentially surpass Gold Exchange-Traded Funds (ETFs) by the year’s end. Meanwhile, Ethereum isn’t lagging behind, as BlackRock ETHA has experienced ten consecutive days of investments in mid-December, accumulating more than $1.3 billion.
Analysts specializing in cryptocurrency are projecting that the price of Ethereum might soar up to $15,000 over the next six to eight months due to the rapid growth of Ethereum ETFs.
BTC Price Outlook
presently, Bitcoin’s price stands at approximately $98,583.53, following a 2.13% rise over the past day.
As a researcher examining the Bitcoin market, I find myself observing that the current price is significantly lower than its all-time high of approximately $108,000. Since we’ve seen this level before, there’s been a palpable sense of optimism within the ecosystem, with many anticipating further growth. In my previous Bitcoin price analysis, market experts like Matrixport hinted at a potential rally that could reach $160,000 by 2025.
To reach that price point, the coin must rise by over 50%, a prediction some investors embrace, but skeptics such as Peter Schiff anticipate it will plummet instead.
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2024-12-25 18:16