The Israel Securities Authority (ISA) has granted permission for six mutual funds to track the price of bitcoin, which will debut on December 31. Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav, and IBI will offer the funds, with management fees ranging from 0.25% to 1.5%. One fund will be actively managed to beat bitcoin's performance. The funds will initially transact once a day but will be able to trade continuously in the future. This approval comes almost a year after the US Securities and Exchange Commission (SEC) approved spot bitcoin exchange-traded funds (ETFs). The US funds have gathered $35.6 billion in investor cash.



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